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RPC's Q1 revenue 'well ahead' of last year, starts share buyback

Reuters - UK Focus

(Corrects to read Q1 in headline)

July 19 (Reuters) - British packaging company RPC Group Plc (LSE: RPC.L - news) said first quarter revenue was "well ahead" of last year helped by acquisitions and favourable currency movements.

RPC (NYSE: RES - news) , which generates about 70 percent of its revenue from outside Britain, said revenue for the quarter ending June 30 totalled about 960 million pounds. It did not provide detail on how large a benefit currency movements delivered.

RPC said it would begin an inaugural share buyback programme of up to 100 million pounds over a period of up to 12 months citing the board's confidence in the long term prospects for the business.

($1 = 0.7666 pounds) (Reporting by Rahul B in Bengaluru; editing by Jason Neely)