Macfarlane Group PLC AGM Statement (1398O)
15 May 2018 - 9:00PM
UK Regulatory
TIDMMACF
RNS Number : 1398O
Macfarlane Group PLC
15 May 2018
15 May 2018
ANNUAL GENERAL MEETING STATEMENT
Macfarlane Group PLC ("Macfarlane") today publishes its Annual
General Meeting ("AGM") Statement covering 2018 to date. At the AGM
in Glasgow Stuart Paterson, Chairman of Macfarlane, will say: -
"Group profit for the year to date is well ahead of that
achieved in 2017 and, recognising the influence of the online
retail sector in the second half of the year, the Board is
confident that Macfarlane will perform in line with its
expectations for 2018.
Sales have grown by 11% compared to the same period in 2017. Our
Packaging Distribution business has grown sales by 12% compared to
2017. This comprises 3% organic sales growth and 9% sales growth
attributable to the Greenwoods acquisition in September 2017, which
continues to perform well. Sales in our Manufacturing Operations
are 4% above the equivalent period in 2017.
As expected, net debt has reduced from the 31 December 2017
level and the Group's committed bank facilities have been increased
to GBP30m. The term has been extended until June 2022 and the Group
continues to operate well within these facilities.
The year 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 2018 will be another year of good progress for Macfarlane
Group."
Further enquiries: Macfarlane Group Tel: 0141 333 9666
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Stuart Paterson Chairman
------------------- ------------------------------- -------------------
Peter Atkinson Chief Executive
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John Love Finance Director
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Spreng Thomson Tel: 0141 548 5191
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Callum Spreng Mob: 07803 970103
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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 60 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 850 people at 29 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 company news service from the London Stock Exchange
END
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