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Comment: Gordon Carson on RPCJosh Brooks, 2 July 2008Be the first to comment on this article Despite facing up to some discontented shareholders, RPC chief executive Ron Marsh has good reason to remain confident about the prospects of the rigid plastics packaging group he has built up. True, RPC’s share price has not produced the returns required by some investors, but it is not the only listed packaging firm to fail to win over the markets. It’s difficult to see what Marsh could do differently. Hit by the rising oil price, in both the costs of energy and polymers, RPC still reported an adjusted operating profit of £40.6m last month, while sales rose 7.7% (4% from volume growth) to hit a record £695.2m. RPC could be playing a clever hand, though. By teasing out the appetite in the market for acquisitions of either the whole group or parts of it, it might end up proving that no one thinks they can do a better job than the incumbent team. Speak Your Mind |
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