Robinson plc
24 October 2023
Impact of Storm Babet
Robinson plc ("Robinson" the "Company" or the "Group" stock code: RBN), the custom manufacturer of plastic and paperboard packaging, provides the following update on the impact of Storm Babet to its premises at Chesterfield.
On 20 October 2023, the river Hipper, which flows by our premises in Chesterfield, rose to its highest ever known level and flooded through part of the site. Part of the premises is occupied by the Group, including the Paperbox manufacturing business and the Group head office; the remainder is let to tenants. The Paperbox business represented 4% of the Group's revenues in 2022. The Group's plastics business was unaffected.
The first and main priority was the safety of those working at the site and the implementation of emergency procedures to mitigate the overall impact. We are pleased to report that despite some challenging circumstances everyone has remained safe.
Despite the substantial efforts of our employees, there has been some damage caused to facilities, materials and equipment and manufacturing operations have paused. There will be disruption as the site clean-up continues prior to recommencement of operations.
Our insurance covers facilities, materials, equipment and business interruption, with an excess of £100,000. Our insurers have been notified and we are in discussions whilst accumulating evidence.
We would like to thank the Robinson team and our external partners for their efforts and our customers and suppliers for their understanding.
A further announcement will be made in due course once the impact of the flooding has been more fully assessed.
The Company also announces that its Nominated Adviser and Broker, finnCap Ltd, has now changed its name to Cavendish Capital Markets Limited following completion of its own corporate merger.
| Enquiries: | |
| Robinson plc | |
| Sara Halton, Interim CEO Mike Cusick, Finance Director | Tel: 01246 389280 |
| | |
| Cavendish Capital Markets Limited | |
| Ed Frisby / Seamus Fricker, Corporate Finance Tim Redfern / Barney Hayward, ECM | Tel: 020 7220 0500 |
About Robinson:
Being a purpose-led business, Robinson specialises in custom packaging with technical and value-added solutions for food and consumer product hygiene, safety, protection, and convenience; going above and beyond to create a sustainable future for our people and our planet. Its main activity is in injection and blow moulded plastic packaging and rigid paperboard luxury packaging, operating within the food and beverage, homecare, personal care and beauty, and luxury gift sectors. Robinson provides products and services to major players in the fast-moving consumer goods market including Procter & Gamble, Reckitt Benckiser, SC Johnson and Unilever.
Headquartered in Chesterfield, UK, Robinson has plants in the UK, Poland and Denmark. Robinson was formerly a family business with its origins dating back to 1839, currently employing nearly 400 people. The Group also has a substantial property portfolio with development potential.
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