As promised at the half-year stage, packaging and manufacturing group Macfarlane (MACF) is starting to see the benefits of the Christmas period e-commerce upswing. This, alongside a strong contribution from recent acquisitions, gives management confidence that the group will reach its full-year guidance. In the packaging division revenue for the year to date is up 8 per cent.
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But it's probably news that the manufacturing business is showing signs of recovery that sent the share price up 7 per cent. While revenue for the year to date is down year on year, management now expects the division to post operating profit in line with last year. In the wider group, pre-tax profit is expected to be well ahead of 2015.
