(Alliance News) - Mpac Group PLC expects profit for the 2019 financial year to be "significantly" above market forecasts, the packaging solutions firm said on Tuesday.
Shares in Mpac were up 20% at 187.20 pence each in London on Tuesday morning.
The company also said that trading in the first half ended June 30 was above board expectations. It attributed this to the momentum gained towards the end of 2018 which continued this year.
The company's order book and order intake so far this year also "provides the board with confidence in the prospects" for the rest of 2019, Mpac said.
Lambert Automation Ltd, acquired for GBP15.0 million in May, will deliver its expected results, the company said.
At the time, Mpac said the Lambert acquisition would be "immediately earnings enhancing".
Chief Executive Tony Steels said: "I am pleased to report that the strong finish to 2018 has continued into 2019. The business fundamentals established over recent years are providing a solid basis for the group to convert market opportunities into improved financial performance."
Last year, the company made a pretax loss of GBP7.4 million on a revenue of GBP58.3 million after administrative costs almost doubled.
The company will release its half-year results on September 5.
Mpac Group Plc (MPAC)