Mpac Group PLC Trading Update (5861F)
July 16 2019 - 2:00AM
UK Regulatory
TIDMMPAC
RNS Number : 5861F
Mpac Group PLC
16 July 2019
16 July 2019
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No. 596/2014
Mpac Group plc
("Mpac", "Company" or "Group")
Trading update
Mpac Group plc, a global leader in 'Make, Pack, Monitor and
Service' high speed packaging and automation solutions issues a
trading update ahead of the release on 5 September 2019 of its half
year results for the six months ended 30 June 2019.
We are pleased to report that trading in the current year is
ahead of the Board's and market expectations, with the momentum
gained in the latter months of 2018 continuing into the first half
of 2019. We have made further progress in our strategic plans for
delivering the 'One Mpac' business model which is underpinning our
improving financial performance.
Good progress has been made in delivering the significant value
contracts won in 2018 and the financial performance of our Services
business is benefiting from the extended service model offered to
our customers. The current order book, year to date order intake
and the volume of quotation activity provides the Board with
confidence in the prospects for the remainder of the year. The
integration of the recently acquired business Lambert Automation is
on track to deliver its expected results.
As a consequence of the above, the Board anticipates that profit
for the full year 2019 will be significantly above current market
expectations.
Tony Steels, Chief Executive, commented:
"I am pleased to report that the strong finish to 2018 has
continued into 2019. The business fundamentals established over
recent years are providing a solid basis for the Group to convert
market opportunities into improved financial performance."
For further information, please contact:
Mpac Group plc Tel: +44(0)24 7642 1100
Tony Steels, Chief Executive
Will Wilkins, Group Finance Director
Panmure Gordon (UK) Limited (Nominated Adviser & Broker) Tel: +44(0)20 7886 2500
Dominic Morley
James Stearns
Hudson Sandler Tel: +44(0)20 7796 4133
Nick Lyon
Nick Moore
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END
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