Plastics and paperboard packaging group Robinson based in the UK is reviewing the future of its North America operations after sales dropped significantly in 2009.
Preliminary results for the year ended 31 December 2009 revealed revenues from Robinson’s Toronto-based business fell by 49%. Cosmetics customers held over stock from 2008 due to weak sales, mainly in toiletries, it said.
The group posted a 9% drop in total income to £23.4m ($34.9m) compared with £25.84m ($38.5m) last year.
Robinson chairman Richard Clothier said: "The board is reviewing the strategic importance and viability of its North American operation in Toronto and is seeking ways of strengthening its European business.”
The group's Eastern European business based in Poland reported a 29% increase in sales.
Robinson stated that its full-year gross margin rose to 20% of revenues from 18% a year ago, thanks ‘to better management of the customer mix, lower direct costs, notably electricity and transport, and lower polymer prices’.
