REG - Macfarlane Group PLC - Trading Update

MacfarlaneAnnouncement

25/11/2021 07:00

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RNS Number : 5079T  Macfarlane Group PLC  25 November 2021

 

25 November 2021

Trading Update

Macfarlane Group PLC ("the Group") today provides an update on trading for the
period to 31 October 2021.

·    The Group's performance since the first half has been robust in the
face of continuing challenging market conditions. The Board now expects the
Group will exceed its previous expectations for the full year.

·    Sales revenue has grown by 25% in the year to date and Group profit
before tax is well ahead of the corresponding period in 2020.

·    Both acquisitions made in 2021 are performing well.

·    We expect the remainder of 2021 to remain challenging with input
price inflation, supply constraints on certain raw materials and increased
operating costs due to staffing pressures. Some customers are also
experiencing supply chain issues which are affecting their demand for
packaging. However, the Group's management team remains focussed on
effectively managing these challenges.

·    Net bank debt at 31 October 2021 reduced to £2.0m (30 June 2021:
£8.7m).

 

Stuart Paterson, Chairman of Macfarlane Group, said:

"The Macfarlane Group performance has been robust in demanding market
conditions and is testament to the strength of our business model and the
diligence of our people. At the interim results we indicated that we expected
headwinds in the second half of 2021, so it is particularly pleasing to be
once again raising our expectations for the full year."

 

 Further enquiries:  Macfarlane Group                                                      Tel: 0141 333 9666
                     Stuart Paterson             Chairman
                     Peter Atkinson             Chief Executive
                     Ivor Gray                      Finance Director
                     Spreng Thomson
                     Callum Spreng                                                         Mob: 07803 970103

Legal Entity Identifier (LEI):  213800LVRYDERSJAAZ73

 

Notes to Editors:

·         Macfarlane Group PLC has been listed on the Premium segment
of the Main Market of the London Stock Exchange (LSE: MACF) since 1973 with
over 70 years' experience in the UK packaging industry.

·         Through its two divisions Macfarlane Group services a broad
range of business customers, supplying them high quality protective packaging
and labels which help customers reduce supply chain costs, improve their
operational efficiencies, and enhance their brand presentation. The divisions
are:

o  Packaging Distribution - Macfarlane Packaging Distribution is the leading
UK distributor of a comprehensive range of protective packaging products; and

o  Manufacturing Operations - Macfarlane Labels who design and print high
quality self-adhesive and resealable labels, principally for FMCG companies,
and Macfarlane Design and Manufacture who design and produce protective
packaging for high value and fragile products.

·         Headquartered in Glasgow, Scotland, Macfarlane Group
employs over 1,000 people at 39 sites, principally in the UK, as well as in
Ireland, Sweden, and the Netherlands.

·         Macfarlane Group supplies more than 20,000 customers in the
UK, Europe, and the USA.

·         In partnership with 1,700 suppliers, Macfarlane Group
distributes and manufactures 600,000+ lines across a wide range of sectors,
including: retail e-commerce; consumer goods; food; logistics; mail order;
electronics; defence, automotive and aerospace.

 

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