Picture of Macfarlane logo

MACF Macfarlane News Story

0.000.00%
gb flag iconLast trade - 00:00
Basic MaterialsBalancedSmall CapSuper Stock

REG - Macfarlane Group PLC - Trading Update

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221124:nRSX4131Ha&default-theme=true

RNS Number : 4131H  Macfarlane Group PLC  24 November 2022

24 November 2022

Trading Update

Trading in line with expectations

Macfarlane Group PLC ("the Group"), the protective packaging specialist, today
provides an update on trading for the period 1 January to 31 October 2022.

 * The Board expects the Group's results for 2022 to be ahead of last year and in
line with its full year expectations.

 * Sales revenue year to date is 11% ahead of the same period last year, with
weaker volumes being offset through the effective management of input price
increases.

 * Strategic progress is being made in Europe following the acquisition of
PackMann and the continuing rollout of our "Follow the Customer" programme.

 * Actions to improve productivity and streamline our operating footprint are
being implemented.

 * Net bank debt at 31 October 2022 reduced to £5.0m (30 June 2022: £9.7m).

 

Aleen Gulvanessian, Chair of Macfarlane Group, said:

"Given the well-publicised adverse market conditions we are pleased with the
performance of the Group so far in 2022 and confident in meeting our profit
expectations for the year.  Whilst challenges will continue to persist, with
the experience of our management team, resilience of our business model and
strong acquisition pipeline, we are well placed to maintain the Group's
positive progress."

 

 Further enquiries:  Macfarlane Group                                                         Tel: 0141 333 9666
                     Aleen Gulvanessian             Chair
                     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 which help
customers reduce supply chain costs, improve their operational efficiencies
and enhance their brand presentation. The divisions are:

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

 * Manufacturing Operations - 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 37 sites, principally in the UK, as well as in Ireland, Germany and the
Netherlands.

 * Macfarlane Group supplies more than 20,000 customers principally in the UK and
Europe.

 * 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTDXLFLLFLZFBZ

Recent news on Macfarlane

See all news