The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMpac Group Plc Regulatory News (MPAC)

Share Price Information for Mpac Group Plc (MPAC)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 485.00
Bid: 480.00
Ask: 490.00
Change: 12.50 (2.65%)
Spread: 10.00 (2.083%)
Open: 472.50
High: 489.50
Low: 472.50
Prev. Close: 472.50
MPAC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trading Update and Notice of Results

11 Jul 2022 07:00

RNS Number : 9175R
Mpac Group PLC
11 July 2022
 

11 July 2022

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018

 

Mpac Group plc

(''Mpac'' or "Group")

 

Trading update and notice of results

 

Mpac Group plc, a global leader in high-speed packaging and automation solutions, issues a trading update ahead of the release of its unaudited results for the six months ended 30 June 2022.

 

Mpac has continued to make progress during the first half of the financial year despite a challenging trading environment, ending the period with a strong order book, ahead of the previous year, and with a very encouraging prospects pipeline. The Group expects to report revenue that is ahead of last year and in line with its expectations in respect of the six months ended 30 June 2022.

 

As previously announced, there has been increasing macro-economic uncertainty and unprecedented volatility in the global supply chain. This has impacted both the timing of customers' order placement and is causing operational challenges, in particular relating to the sourcing of critical, customer specified electronic components. The Group continues to respond dynamically to meet its customers' expectations, including investing in inventory and work in progress to ensure we remain a reliable partner to our customers. However, these challenges have become more acute in recent months resulting in extended lead times and cost inflationary pressures which are impacting the Group's operational efficiencies and margins. Consequently, the Group now expects that profit in respect of FY22 will be significantly below current market expectations.

Supply chain and operational challenges are likely to continue for the remainder of 2022, before easing in 2023. In the meantime, the Group has been proactive in implementing mitigation measures which include securing alternative sources of electronic component supply, increased focus on reliable planning data from our recently implemented ERP system, close management of our supply chain and implementing cost savings initiatives.

Beyond these short-term operational challenges, the longer-term outlook for the business remains positive. We carry forward a strong prospect pipeline and order book, concentrated on companies in our core, resilient, end markets of Healthcare and Food and Beverage and the balance sheet remains strong providing us with the ability to invest in the Group for growth over the medium term and beyond.

Tony Steels, Chief Executive, commented:

 

''Over the recent past Mpac has created a business model which enables the Group to flex with changing circumstances, however the unprecedented nature of the supply chain disruption will impact our full year results. I am confident our experienced management team will resolve the short-term challenges with the mitigation plans already in place, alongside the sound operational foundations established by implementing the One Mpac business model. We remain confident in the long-term prospects for the Group.''

The Group expects to announce its unaudited results for the six months ended 30 June 2022 on 8 September 2022.

 

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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTRPMFTMTIMBBT
Date   Source Headline
16th Jan 20172:00 pmRNSPrice Monitoring Extension
24th Aug 20167:00 amRNSHalf-year Report
25th May 20163:32 pmRNSDirector Dealings and Holdings in Company
11th May 20167:00 amRNSBoard Changes
22nd Apr 20161:44 pmRNSResult of AGM
22nd Apr 201611:47 amRNSAGM Statement
15th Apr 201610:58 amRNSHolding(s) in Company
29th Mar 20169:32 amRNSNotice of AGM
25th Feb 20167:00 amRNSPreliminary Results
4th Nov 20152:40 pmRNSDirector/PDMR Shareholding
27th Aug 20157:00 amRNSHalf Yearly Report
17th Jun 20154:46 pmRNSHolding(s) in Company
10th Jun 20156:04 pmRNSHolding(s) in Company
1st Jun 20157:00 amRNSDisposal
24th Apr 20151:27 pmRNSResult of AGM
24th Apr 201511:55 amRNSAGM Trading Statement
10th Apr 20159:00 amRNSBoard changes
25th Feb 20157:00 amRNSFinal Results
31st Oct 201410:49 amRNSHolding(s) in Company
10th Oct 20142:31 pmRNSTrading update
28th Aug 20147:00 amRNSHalf Yearly Report
19th Jun 20148:30 amRNSAdmission to AIM
19th Jun 20148:00 amRNSCancellation - MOLINS PLC
20th May 201411:32 amRNSSchedule 1 - Molins Plc
20th May 201411:20 amRNSResult of GM & Schedule 1 announcement
24th Apr 20146:39 pmRNSResult of AGM
24th Apr 201411:10 amRNSInterim Management Statement
24th Apr 201411:10 amRNSProposed admission to trading on AIM
28th Feb 201410:28 amRNSRDS Director/PDMR Shareholding
26th Feb 20147:00 amRNSFinal Results
7th Feb 20147:00 amRNSNotification of Preliminary Results
23rd Dec 20137:00 amRNSChange of Adviser
5th Dec 20137:00 amRNSPurchase of shares by Molins PLC Employee Trust
8th Nov 20131:10 pmRNSHolding(s) in Company
25th Oct 201311:56 amRNSHolding(s) in Company
24th Oct 201312:33 pmRNSHolding(s) in Company
24th Oct 20137:00 amRNSInterim Management Statement
16th Oct 201310:58 amRNSHolding(s) in Company
12th Sep 20134:17 pmRNSHolding(s) in Company
5th Sep 20136:21 pmRNSHolding(s) in Company
2nd Sep 20136:07 pmRNSHolding(s) in Company
29th Aug 20137:00 amRNSFinal Results
25th Jul 20131:30 pmRNSNotice of Results
25th Apr 20135:13 pmRNSResult of AGM
2nd Apr 20133:31 pmRNSHolding(s) in Company
8th Mar 20133:48 pmRNSDirector/PDMR Shareholding
27th Feb 20135:07 pmRNSDirector/PDMR Shareholding
27th Feb 20137:00 amRNSFinal Results
7th Feb 20137:00 amRNSNotice of Results
25th Oct 20127:00 amRNSInterim Management Statement

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.