Last checked at 4 May 2022 07:00
4 May 2022
AIM: MPAC
Mpac Group plc
(''Mpac'', "Company" or "Group")
AGM statement
Trading in line with the Board's expectations
At the Company's AGM later today, Mpac Group plc, a global leader in high-speed packaging and automation solutions, will make the following statement:
The Company is pleased to report that trading in the current financial year has been in line with the Board's expectations. In addition, the prospects pipeline remains strong, and the current orderbook is significantly above the previous year, providing extensive coverage over forecast revenue. Supply chain uncertainties and operational challenges have increased, amplified by transportation delays at global ports and increased macro-economic uncertainty following the Russian invasion of the Ukraine. However, mitigation measures have been implemented and the Group's prospects remain positive due to the strength of the orderbook, the prospect pipeline and the end markets we serve.
Tony Steels, Chief Executive, commented:
"I am pleased to report that we have started 2022 trading in line with expectations. Our management team has responded well to the supply chain disruption and has been able to largely mitigate the impact on Mpac and our customers. While we anticipate that the current supply chain challenges are likely to continue throughout 2022, the Group has momentum from a strong orderbook and the sound operational foundations, established by implementing the One Mpac business model, and I continue to be confident that results for the full year will be in line with expectations.''
For further information, please contact:
Mpac Group plc Tony Steels, Chief Executive Will Wilkins, Group Finance Director
| Tel: +44(0)24 7642 1100 |
Shore Capital (Nominated Adviser & Broker) Advisory Patrick Castle Iain Sexton Broking Henry Willcocks
| Tel: +44(0)20 7408 4050
|
Hudson Sandler Nick Lyon Nick Moore | Tel: +44(0)20 7796 4133
|