Macfarlane 'cautiously optimistic' for 2010

Support services firm Macfarlane ramped up underlying profit by 28% last year and says trading has been encouraging at the start of 2010.Pre-tax profit rose to £3.18m from £2.48m in 2008 on revenue unchanged at £123.6m, while profit from continuing operations increased to £2.49m from £1.97m."The prompt actions of management in reducing costs, focusing the business on retaining existing accounts and seeking out new business opportunities mitigated the worst effects of the recession," said chairman Archie Hunter. "I am pleased to report that the group responded well, with a performance for the year in line with market expectations."The resilience of 2009 is being maintained, the costs of the restructuring programme in 2009 have been incurred and the full benefit of that programme will be seen in 2010, adds the group."Accordingly we are about trading prospects for 2010." A final dividend of 1p per share gives a total of 1.5p. Macfarlane Grp.