Robinson plc

UK Plastics volume growth, especially PET bottles

UK Plastics sales volumes increased 10%; more than 50% of growth was in PET bottles due to recyclability and EPR legislation driving switch from glass/HDPE to PET

Poland demand weakness/pricing pressure

Poland sales volumes decreased 6% on lower demand from largest customers; retailers pushing contract manufacturers to cut costs, fewer growth projects, a key air-freshener product being discontinued/reformatted in 2026

Gross margin improvement (22% vs 20% in 2024) from scale and operational efficiency in UK Plastics and improved material utilisation/reduced process waste in Denmark

Gross margins were 2% above 2024 largely as a result of additional scale and operational efficiency in UK Plastics, supported by improved material utilisation and reductions in process waste in Denmark

Inflation stabilising and reduced input costs

Inflation has stabilised and we have seen reductions in some input costs; no substantial sales price increases needed in 2025

£376k credit: Profit on disposal of assets held for sale (surplus property sales)

We expect underlying operating profit for the 2026 financial year to be in line with current market expectations. We expect progress in revenue and profits in our two UK businesses due to known new customer projects, but conditions in Poland and Denmark are expected to remain challenging.

Directors' report states there have been no events since the balance sheet date that would have had a material impact on the financial statements

Board proposes a final dividend of 3.5p per share (payable 19 June 2026, ex-div 4 June 2026, record date 5 June 2026), bringing total dividend declared for 2025 to 6.0p (2024: 6.0p). No explicit formal dividend policy statement beyond capital-management objective that the Group may adjust dividends, issue new shares or sell assets to manage its capital structure.

Unqualified ('true and fair') audit opinion issued by Forvis Mazars LLP (Stephen Brown, Senior Statutory Auditor), dated 4 March 2026. Going concern basis adopted; Directors performed a stress test (5% revenue reduction, 1% gross margin reduction, 5% fixed cost increase, dividend suspension, continued facility availability) confirming adequate headroom against £2.5m committed mortgages (to March 2031) and £11.2m short-term facilities over the next 12 months. Two Key Audit Matters identified: revenue recognition (Group and parent) and carrying value of investments in subsidiary undertakings/loans classed as equity instruments (parent, specifically Robinson Denmark given impairment indicators).