Robinson warns revenue will fall, but remains upbeat with new business wins

12th Jan 2017 09:53

(ShareCast News) - Plastic and paper packaging manufacturer Robinson warned that revenue is expected to be lower than the previous year due to lost business and waning demand, but remained upbeat as it has already gained new business for the 2017 financial year.The company anticipates trading profits for the year will be "slightly below" market expectations, due to a fall in sales.Revenues are anticipated to fall 5.6% for the year ended 31 December to £27.5m, compared to 2015, due to lost business and lower demand for certain categories of branded goods, even though movements in average exchange rates added £800,000 to revenues in 2016.New business that had been planned for the second half of 2016 was delayed, but the company said it will benefit 2017.Since the new year, the company has "significant" new business confirmed, and along with the delayed business from the 2016 rolling into this year, the company expects to deliver revenue and earnings growth for 2017.On 9 January, Chesterfield Borough Council's planning Committee approved plans to develop the surplus 15 acre Boythorpe Works and eight acre Walton Works sites for residential and retail use.Shares in Robinson were down 0.07% to 140.40p at 0909 GMT.