Richards Packaging Income Fund announces 2025 Third Quarter Results: Revenue growth of 11% primarily on acquisitions; announces trust conversion
TORONTO, Oct. 30, 2025 /CNW/ - Richards Packaging Income Fund (TSX: RPI.UN) (the "Fund") announced today results for the quarter ended September 30, 2025.
Third Quarter 2025 Highlights:
- Revenue contributions from acquisitions including DermapenWorld (June), National Dental Innovations (February) and HL Production (February) drove overall increase of 10.3%
- Organic Healthcare revenues up 3.0%, representing a solid quarter with strong performance in each of our core Aesthetic, Vision, and Pharmacy verticals Growth was driven by consumables and low-price capital equipment. The softness in high-price equipment that began in 2024 appears to be continuing industry-wide.
- Food & Beverage packaging revenue fell 5.9%, with growth in revenue and gross margin in Canada opposed by ongoing challenges in the US, reflective of the macro environment and some internal challenges.
- Cosmetic packaging revenues in the quarter were steady year-over-year up 0.8%, with a temporary decline in margin as a significant volume of aged inventory was discounted and sold through to clean up working capital.
- Term debt repayments of $1.8 million were made in line with the mandatory repayment schedule.
Management Comments:
"During the third quarter of 2025, Richards shifted focus from pursuing acquisitions to integration and internal reorganization, most notably with the announcement of an effort to convert from an income trust to a corporation. In the background, an uncertain macroeconomic outlook in the US began to manifest in a challenging demand environment for players in both the healthcare and packaging industries.
With significant integration and organic opportunities on the horizon, the Richards management team expects to spend the coming quarters in relentless execution of the Transform, Perform, Present plan initially laid out in 2024." commented John Glynn, President and Chief Executive Officer.
Details of the Fund's results are currently available on Richards Packaging's website at www.richardspackaging.com and on SEDAR+ at www.sedarplus.ca
About Richards Packaging Income Fund
The Fund owns Richards Packaging Inc. ("Richards Packaging") which since 1912 has served a wide customer base throughout North America comprised of over 18,000 regional food, beverage, cosmetics, healthcare, and other enterprises.
SOURCE Richards Packaging Inc.