07:29 AM EST, 03/07/2025 (MT Newswires) -- Richards Packaging Income Fund (RPI-UN.TO) reported overnight Thursday a decline in net income and revenue for the fourth quarter.

The company posted net income of $8.6 million, dropping from $10.2 million, as revenue fell to $104.8 million from $108.8 million.

Richards Packaging said its net income was impacted by exceptional items and contingent consideration revaluation, while its revenue was dragged down by lower healthcare capital sales and lower food and beverage sales.

Adjusted EBITDA slipped to $15.3 million from $16.6 million.

The company also appointed John Glynn as CEO. Glynn has been president of the Fund since September 2023.