Macfarlane Group PLC AGM Statement (6038E)
May 09 2017 - 6:00AM
UK Regulatory
TIDMMACF
RNS Number : 6038E
Macfarlane Group PLC
09 May 2017
9 May 2017
ANNUAL GENERAL MEETING STATEMENT
Macfarlane Group PLC ("Macfarlane") today publishes its Annual
General Meeting ("AGM") Statement covering 2017 to date. At the AGM
in Glasgow, Graeme Bissett, Chairman of Macfarlane, said: -
"Group sales in the year to date have grown by 11% compared to
the same period in 2016. Profit is ahead of that achieved in 2016
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 2017.
Our Packaging Distribution business which represents 86% of
Group sales, has grown sales by 13% compared to 2016. This
performance includes 10% sales growth attributable to prior year
acquisitions, all of which continue to trade well, and organic
sales growth of 3%, with an improving new business performance well
ahead of the previous year.
Sales in our Manufacturing Operations are 1% above the
equivalent period in 2016 and, with our focus on higher value added
products and services, profitability is ahead of 2016.
As expected, net debt has reduced from the 31 December 2016
level. The Group continues to operate well within its existing bank
facilities.
We will maintain our programme of growing organically in target
markets, augmented by acquiring good quality businesses and we are
confident that Macfarlane Group will continue to make further good
progress in the remainder of the year."
Further enquiries: Macfarlane Group Tel: 0141 333
9666
------------------- ------------------------------- ------------------
Graeme Bissett Chairman
------------------- ------------------------------- ------------------
Peter Atkinson Chief Executive
------------------- ------------------------------- ------------------
John Love Finance Director
------------------- ------------------------------- ------------------
Spreng Thomson Tel: 0141 548
5191
------------------- ------------------------------- ------------------
Callum Spreng Mob: 07803 970103
------------------- ------------------------------- ------------------
Notes to Editors:
-- Macfarlane Group PLC is listed on the London Stock Exchange
(LSE: MACF) in the Industrials Sector.
-- The company 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 Labels designs and prints high quality self-adhesive and
resealable labels, principally for FMCG companies.
o Packaging Design and Manufacture specialises in designing and
producing protective packaging for high value, fragile
products.
-- Macfarlane Group is headquartered in Glasgow, Scotland, and
employs over 800 people at 29 sites, principally in the UK and
Ireland.
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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