Mpac Group PLC Trading Update (5164E)
July 08 2021 - 2:00AM
UK Regulatory
TIDMMPAC
RNS Number : 5164E
Mpac Group PLC
08 July 2021
8 July 2021
Mpac Group plc
("Mpac", "Company" or "Group")
Trading update and notice of results
Continued momentum and strong order book
Mpac Group plc, a global leader in high-speed packaging and
automation solutions , issues a trading update ahead of the release
of its unaudited results for the six months ended 30 June 2021.
We are pleased to report that the strong momentum in the second
half of 2020 has continued into the first half of 2021. Order
intake in H1 2021 across all regions was significantly above the
COVID-impacted H1 prior year, with the Americas region, underpinned
by our previous investment in Switchback and an expanded commercial
footprint, performing particularly well. Consequently, our order
book going into the second half of 2021 is above the opening order
book of GBP55.5m, providing enhanced coverage over H2 forecast
revenue. The Board is therefore comfortable with current full year
market expectations.
Further good progress has been made with the integration of the
Switchback business, acquired in September 2020 , which continues
to trade ahead of management expectations from the time of
acquisition .
The i mplementation of common business processes and systems was
successfully completed in H1, which we anticipate will increase the
Group's capacity to accommodate future growth and further
strengthens our ability to operate as a single entity business.
While travel restrictions, particularly in EMEA and APAC,
continue to present challenges to new business development and to
machine installations, the impact is largely mitigated through both
the ingenuity of our employees and the use of digital technology to
provide our customers with the highest standards of customer
service.
The Group expects to announce its unaudited results for the six
months ended 30 June 2021 on 2 September 2021.
Tony Steels, Chief Executive, commented:
"I am pleased to report a strong start to 2021 across all
regions. The outlook is positive based on trends in new prospects
and customer investment discussions, and we enter the second half
of 2021 with both a strong order book and a developing prospect
pipeline and we remain confident that we can leverage the One Mpac
operating model to deliver sustainable profitability".
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 7468 7923
Patrick Castle
Edward Mansfield
Sarah Mather
Henry Willcocks
Hudson Sandler Tel: +44(0)20 7796 4133
Nick Lyon
Nick Moore
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