REG - Mpac Group PLC - AGM Statement

MPACAnnouncement

04/05/2022 07:00

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RNS Number : 2013K  Mpac Group PLC  04 May 2022

 
4 May 2022

 

 

AIM: MPAC

 

 

 

Mpac Group plc

(''Mpac'', "Company" or "Group")

 

AGM statement

 

Trading in line with the Board's expectations

 

At the Company's AGM later today, Mpac Group plc, a global leader in
high-speed packaging and automation solutions, will make the following
statement:

 

The Company is pleased to report that trading in the current financial year
has been in line with the Board's expectations. In addition, the prospects
pipeline remains strong, and the current orderbook is significantly above the
previous year, providing extensive coverage over forecast revenue.  Supply
chain uncertainties and operational challenges have increased, amplified by
transportation delays at global ports and increased macro-economic uncertainty
following the Russian invasion of the Ukraine.  However, mitigation measures
have been implemented and the Group's prospects remain positive due to the
strength of the orderbook, the prospect pipeline and the end markets we serve.

 

 

Tony Steels, Chief Executive, commented:

 

"I am pleased to report that we have started 2022 trading in line with
expectations.  Our management team has responded well to the supply chain
disruption and has been able to largely mitigate the impact on Mpac and our
customers.  While we anticipate that the current supply chain challenges are
likely to continue throughout 2022, the Group has momentum from a strong
orderbook and the sound operational foundations, established by implementing
the One Mpac business model, and I continue to be confident that results for
the full year will be in line with expectations.''

 

 

 

For further information, please contact:

 

 Mpac Group plc                                  Tel: +44(0)24 7642 1100

 Tony Steels, Chief Executive

 Will Wilkins, Group Finance Director

 Shore Capital (Nominated Adviser & Broker)      Tel: +44(0)20 7408 4050

 Advisory

 Patrick Castle

 Iain Sexton

 Broking

 Henry Willcocks

 Hudson Sandler                                  Tel: +44(0)20 7796 4133

 Nick Lyon

 Nick Moore

 

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