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RPC Group profit falls marginally on European market weakness

Reuters - UK Focus

Nov 28 (Reuters) - Plastic-packaging maker RPC Group Plc (LSE: RPC.L - news) said profit in the first half fell marginally due to weakness in the European markets.

"Continued weakness in continental markets and up-front costs related to future growth have offset benefits in other areas," RPC (NYSE: RES - news) said in a statement on Thursday.

Adjusted operating profit fell to 46.6 million pounds ($75.85 million) in the first half from 47 million pounds.

RPC, which makes packaging for Nivea beauty products and Nescafe Dolce Gusto coffee-machine capsules, said revenue rose 8.5 percent to 525 million pounds.

RPC, which generates 44 percent of its revenue from Europe, said it is planning a selective consolidation of the fragmented European packaging market through targeted acquisitions.