Macfarlane Group PLC AGM Statement (9393Y)
May 14 2019 - 7:00AM
UK Regulatory
TIDMMACF
RNS Number : 9393Y
Macfarlane Group PLC
14 May 2019
14 May 2019
ANNUAL GENERAL MEETING STATEMENT
Macfarlane Group PLC ("Macfarlane") today publishes its Annual
General Meeting ("AGM") Statement covering 2019 to date. At the AGM
in Glasgow Stuart Paterson, Chairman of Macfarlane, will say: -
"Group profit for the year to date is ahead of that achieved in
2018 and, recognising the usual seasonal uplift in the second half
of the year, the Board is confident that Macfarlane will perform in
line with its expectations for 2019.
Sales have grown by 7% compared to the same period in 2018. Our
Packaging Distribution business has grown sales by 6% compared to
2018. This comprises 3% organic sales growth and 3% sales growth
attributable to the two acquisitions in 2018, which continue to
perform well. Sales in our Manufacturing Operations are 15% above
the equivalent period in 2018.
A key component of our strategy is the acquisition of
good-quality packaging distribution businesses. At the end of
April, we were pleased to complete the acquisition of Ecopac (UK)
Limited, a packaging distributor based near Aylesbury with annual
sales of GBP6.0m.
Prior to completing the acquisition referred to above, net debt
had reduced from the 31 December 2018 level. The Group's committed
bank facilities of GBP30m remain available until June 2022 and the
Group continues to operate well within these facilities.
2019 has started positively and we shall maintain our focus on
growing organically in our target markets, supplemented by the
acquisition of good quality packaging businesses. We are confident
that 2019 will be another year of good progress for Macfarlane
Group."
Further enquiries: Macfarlane Group Tel: 0141 333 9666
Stuart Paterson Chairman
------------------------------- -------------------
Peter Atkinson Chief Executive
------------------------------- -------------------
John Love Finance Director
------------------------------- -------------------
Spreng Thomson Tel: 0141 548 5191
------------------------------- -------------------
Callum Spreng Mob: 07803 970103
------------------------------- -------------------
Legal Entity Identifier (LEI): 213800LVRYDERSJAAZ73
Notes to Editors:
-- Macfarlane Group PLC is listed on the London Stock Exchange
(LSE: MACF) in the Industrials Sector
-- The company is headquartered in Glasgow, Scotland and has
more than 70 years' experience in the UK packaging industry
-- Macfarlane Group's businesses are:
o Macfarlane Packaging is the leading UK distributor of a
comprehensive range of protective packaging products
o Macfarlane Labels designs and prints high quality
self-adhesive and resealable labels, principally for FMCG
companies
o Macfarlane Packaging Design and Manufacture designs and
produces protective packaging for high value, fragile products
-- Macfarlane employs over 925 people at 30 sites, principally
in the UK, but also in Ireland and Sweden
-- The company has 20,000+ customers in the UK, Europe and the
USA providing 600,000+ lines to a wide range of industry sectors
including: consumer goods; food manufacturing; logistics; internet
retail; mail order; electronics; defence 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 or visit www.rns.com.
END
AGMSFASMLFUSELI
(END) Dow Jones Newswires
May 14, 2019 07:00 ET (11:00 GMT)
Macfarlane (LSE:MACF)
Historical Stock Chart
From Mar 2024 to Apr 2024
Macfarlane (LSE:MACF)
Historical Stock Chart
From Apr 2023 to Apr 2024