UK's Macfarlane Group hits 8-month low on HY profit fall
22/08/2024 08:52
** Shares of Macfarlane Group Plc MACF.L fall as much as
5.8% to 113p, their lowest level since Dec. 22, 2023
** Stock top loser on FTSE Small Cap .FTSC index
** The Glasgow-based packaging firm posts a 3% decline in HY
adjusted pre-tax profit at 11.6 mln pounds ($15.2 mln); revenue
down 8% to 129.6 mln pounds
** Chair Aleen Gulvanessian says challenging market
conditions experienced in the latter part of 2023 have continued
in 2024
** Including session's losses, stock down ~3% YTD
($1 = 0.7641 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))