The market was hoping for packaging distributor Macfarlane Group (MACF) to continue the sales momentum shown in the six months to June, and that is what it got. News that core business revenues are up 14 per cent so far this year, recent acquisition One Packaging is performing well, and operating profit is "well above" last year's comparator, sent the stock up 11 per cent and made up for the sell-off since September's 12-month share price high of 53p.
IC TIP:
Buy
at
52.25p
House broker Arden Partners has raised its full year forecasts for pre-tax profit and EPS to £7.6m and 4.8p respectively, up from £6m and 4.1p in 2014.
