- Ohio-based Switchback trading ahead of expectations
- Order intake significantly higher across all regions year on year
- Order book above level at start of the year
- Potential for earnings upgrades
Mpac (MPAC:480p), a small-cap niche packaging engineering business that offers customers digital solutions for artificial intelligence-enabled equipment and robotics in their production facilities and warehouses, is on track to deliver a material rebound in profits this year. It is primed to maintain the momentum for years to come, too.
Ahead of interim results on 2 September, Mpac’s pre-close trading update revealed that order intake across all regions has been materially above the Covid-19-impacted prior half-year, and that the current order book is above the opening level (£55.5m) at the start of 2021. Over half of Mpac’s revenue is generated in North America, a region that is enjoying a robust economic recovery following last year’s recession. In addition, the successful integration of Ohio-based Switchback has not only added breadth to Mpac's carton and end-of-line solutions, and provides access to a wider potential customer base to build sales in North America, but last September’s $13.3m acquisition continues to trade ahead of expectations.