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MACF Macfarlane Group Plc

143.00

0.00 (0.00%)

Last Updated: 12:06:40

Delayed by 15 minutes

Macfarlane Investors - MACF

Share Name	Share Symbol	Market	Stock Type
Macfarlane Group Plc	MACF	London	Ordinary Share

	Price Change	Price Change %	Share Price	Last Trade
	0.00	0.00%	143.00	12:06:40

Open Price	Low Price	High Price	Close Price	Previous Close
143.00	143.00	143.00		143.00

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Posted at 01/8/2023 16:17 by nchanning Far from conclusive but I probably wouldn't join investor meet company for my first ever public presentation to deliver bad news and face some angry shareholders . Not that Macfarlane really deals in surprise profit warnings anyway .... Read Full Thread Reply
Posted at 27/7/2023 10:23 by nchanning fair enough , they have just joined the Investor Meet company platform Read Full Thread Reply
Posted at 23/6/2023 10:57 by nchanning It's ok for company to be non promotional , do no investor relations , consistently underreport earnings by not excluding amortisation of acquired intangibles - as long as they take advantage of it buying back their own incredibly cheap stock . If the share price goes up great , if it doesn't we can probably buy back half the shares outstanding in the next 4 years and be on a PE of ~3 Read Full Thread Reply
Posted at 09/5/2023 08:09 by pireric Id just flag on the packaging that input prices have eased since Q3 last year, hence the slightly slower 4Q and 1Q, which will be a small revenue headwind. However, as a leading distributor and fast inventory churn times, I wouldn't at all be surprised if its a small gross margin tailwind as they hold prices up while they balance input prices lower at a slightly more gradual pace. Also, as they say, it's the industrial end markets which are doing much better vs. e-comm, and industrial has higher gross margins. In any case, they're comfortable with the brokers FY expectations which have recently been upgraded twice for the acquisitions which are slightly higher than your estimates at present (I suspect on GMs?) Continues to be ripe to be acquired at this pace, in my opinion. The stock is far too cheap and retail investor pullback from UK markets investing, and the market cap (which is a little below the mainstream institutional investor radar) are both causes of that. It's actually cheaper now than at almost any points over the last 5-7 years when the execution has just continued to be strong. Eric Read Full Thread Reply
Posted at 26/8/2022 10:31 by cockerhoop Research Tree do a 3 company research package for £8 a month (£25 per month for full coverage) with the flexibility to switch companies on a monthly basis so you can cover up to perhaps 10 companies from brokers like Shore. So no real excuse for any vaguely serious investor. Read Full Thread Reply
Posted at 25/8/2022 16:03 by effortless cool Yes, they're the only broker providing coverage, at present, which is annoying as they will not make their research freely available to private investors. Read Full Thread Reply
Posted at 26/7/2022 20:32 by tole https://www.fool.co.uk/2022/07/26/this-stock-could-be-i-of-my-best-shares-to-buy-for-long-term-growth-and-returns/This stock could be 1 of my best shares to buy for long-term growth and returns!This Fool is looking for the best shares to buy now and believes this stock could be a good option for dividends and growth.Jabran Khan?Published 26 July, 3:06 pm BSTMACFFinding the best shares to buy is a core part of my investment strategy. I believe Macfarlane Group (LSE:MACF) is a stock that could grow exponentially over the years as well as provide consistent returns. Could now be a good time for me to buy the shares? Let's take a look.Packaging and labellingAs a quick introduction, Macfarlane is a packaging and labelling business based in Scotland. After being established over 70 years ago, it has grown into one of the largest distributors of packaging products in the UK with over 1,000 employees. It also sells its products into Europe and the US.So what's happening with Macfarlane shares currently? Well, as I write, they're trading for 118p. At this time last year, the stock was trading for 112p, which equates to a 5% return over a 12-month period.The biggest risks to Macfarlane's growth currently are macroeconomic headwinds. Soaring inflation has led to rising cost of raw materials. Furthermore, there is currently a global supply chain crisis that has affected many sectors and industries.Macfarlane could be adversely affected by rising materials costs. Packaging products require lots of raw materials to manufacture. These rising costs could squeeze profit margins, which in turn could affect performance and investor returns. If it decides to put prices up, it could lose business to competitors too.The global supply chain crisis has led to many businesses being unable to provide products to their customers. Macfarlane's sales, performance, and returns could be affected if this crisis continues.The bull caseSo to the positives then. Firstly, the packaging and labelling market has grown massively in recent years. This is linked to the e-commerce boom and the explosion of online shopping, which has been exacerbated by the pandemic. Macfarlane should be able to leverage its dominant market position to grow its business and performance.Next, let's take a look at Macfarlane's performance, although I do understand that past performance is not a guarantee of the future. Looking back, Macfarlane has grown revenue and profit in three out of the past four years. The only year when levels dropped was 2020, this was due to the pandemic. 2021 performance was higher than pre-pandemic levels, which is encouraging.So on to the Macfarlane share price. At current levels, the shares look decent value for money on a price-to-earnings ratio of 13. Many of my best shares to buy have pulled back in the past few months which has thrown up some bargain buys.Finally, Macfarlane shares would boost my passive income stream through dividend payments. The current dividend yield on offer is 2.7%, which is higher than the FTSE 250 average of just under 2%. I am aware that dividends can be cancelled at any time, however.Overall I do believe that Macfarlane shares could be a great addition to my holdings for long-term growth and consistent returns. I would buy the shares and hold on to them. Read Full Thread Reply
Posted at 22/2/2022 18:18 by km18 ...from last year... Company overview: Founded 70 years ago, Macfarlane Group is running three leading businesses in the packaging sector in the UK. The Group’s customer base is from UK, Europe and USA, with proportions of 70%, 15% and 15%, respectively. The packaging distribution generates 87% of the sales, with design and manufacturing only 6% and the rest is accounting for the private labels of the company. The value created by the group is not only from the physical products but also from advisory on product choices and avoidance of “hidden-costs”. Macfarlane’s business strategy gives a hint also on the growth approach they are adopting. Great attention is given to the operational effectiveness and strategical segment sales. They are also supplementing the organic growth with quality acquisitions creating a blended approach towards growth. MACF started as a commercial stationery company and has transformed in the leading packaging business in the UK. The Group managed to continuously rise the PBT over the past 11 years, with current compound growth rate on operating profit of 13.3%. The value created by the group is not only from the physical products but also from advisory on product choices and avoidance of “hidden-costs”. The returns to the investors are also attractive with ROCE and dividend compound growth of 14.7% and 6.98% respectively. Revenue growth in 2020 came from the retail arm of packaging as it accounted for 28% compared to previous 23%, driven by the e-commerce wave. The hygiene products did not offset the significant drop in aerospace and automotive bringing down the overall performance of the design and manufacture division. Cash generation is strong with a proven track record of debt retirement. The leverage we see comes from several factors, among which we can find a pension deficit of £1.5m (reduced significantly from £6.5m from a more balanced portfolio with LDI). Goodwill is at 265 of total assets and with continuous growth in revenues and net income should not present any issues. Interim results from the Group are confirming its ability to generate continuous growth and adapt to changing environments. Sales increased by 26.5% compared to H1 2020, reaching £133.5m. Profit before tax even doubled. According to managements comments, the strong trading in H1 and positive outlook even in the presence of numerous disruptions, will drive the year-end figures ahead of previous expectations. The boards suggested an increase in the interim dividend to 0.87p.... ....from WealthOracleAM Read Full Thread Reply
Posted at 27/10/2021 09:41 by pireric After a month and a half of consolidation, I have been upping my position here again (adding back a little of the trim in the high 130s). I am expecting a trading update in 3-4 weeks time to show that trading continues to be good. I remain of the opinion that there is further upside to the broker estimates for this year and the eventual valuation will prove to be comfortably under 12 times adjusted PE. We may need to wait until FY to get the upgrade but it could come in Q3. In the context of the quality of the track record and management, I still struggle to find better risk-adjusted value in any pockets of the market. There has been one murmuring (investors chronicle) in the last month asking about whether the e-commerce boom is a one off spike for packaging players. Its not hard to disprove that as being unlikely. E.g. if we take the US retail ecommerce market, which has had offline retail unlocked for far longer than the UK, the growth rate has calmed down. But the overall spend trend reached new quarterly ATHs in Q2. Ecomm spend was about 155bn USD in Q1 2020, spiked to 204bn in Q2 2020, and rose to 215bn in Q1 2021 and 222bn in Q2 2021. Some are but I would not want to deny that e-commerce growth is a long term demand trend and yet today ecomm retail is only 13.3% of total US retail sales so a long runway there. Eric Read Full Thread Reply
Posted at 26/8/2021 20:35 by pireric One final one from me - investors chronicle write-up this evening. Suggest more M&A in the pipeline, including into continental Europe to build out the follow the customer strategy. If they can have any semblance of success in replicating what they're doing in the UK in mainland Europe, then that would dramatically expand the addressable market Eric Read Full Thread Reply

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