macfarlane group

Macfarlane announces its Interim Results

Macfarlane Group PLC today publishes its Interim Results for the six months to 30 June 2018.

Stuart Paterson, Chairman of Macfarlane Group PLC, today said:

“Macfarlane Group has performed well in the first half of 2018. Group sales of £102.0m, were 14% ahead of the comparable period last year and profit before tax of £3.5m, was 39% higher than in 2017. This strong performance in the first six months of 2018, supplemented by the expected seasonal uplift from the e-commerce sector in the second half of the year, gives the Board confidence that its full year expectations for 2018 will be achieved.

“Packaging Distribution grew its sales by 14% in the first half of 2018, with 5% achieved from organic growth and the remainder from the 2017 acquisition of Greenwoods, which is performing well. Gross margin in Packaging Distribution rose to 29.3%, (2017: 29.0%). Operating profit for the division at £3.7m was £1.0m ahead of 2017, an increase of 39% (…)”

To read the full statement, click here.