Mpac Group PLC Trading Update (5861F)

TIDMMPAC

RNS Number : 5861F

Mpac Group PLC

16 July 2019

16 July 2019

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No. 596/2014

Mpac Group plc

("Mpac", "Company" or "Group")

Trading update

Mpac Group plc, a global leader in 'Make, Pack, Monitor and Service' high speed packaging and automation solutions issues a trading update ahead of the release on 5 September 2019 of its half year results for the six months ended 30 June 2019.

We are pleased to report that trading in the current year is ahead of the Board's and market expectations, with the momentum gained in the latter months of 2018 continuing into the first half of 2019. We have made further progress in our strategic plans for delivering the 'One Mpac' business model which is underpinning our improving financial performance.

Good progress has been made in delivering the significant value contracts won in 2018 and the financial performance of our Services business is benefiting from the extended service model offered to our customers. The current order book, year to date order intake and the volume of quotation activity provides the Board with confidence in the prospects for the remainder of the year. The integration of the recently acquired business Lambert Automation is on track to deliver its expected results.

As a consequence of the above, the Board anticipates that profit for the full year 2019 will be significantly above current market expectations.

Tony Steels, Chief Executive, commented:

"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."

For further information, please contact:

 
 Mpac Group plc                                             Tel: [phone] 
  Tony Steels, Chief Executive 
  Will Wilkins, Group Finance Director 
 Panmure Gordon (UK) Limited (Nominated Adviser & Broker)   Tel: [phone] 
  Dominic Morley 
  James Stearns 
 Hudson Sandler                                             Tel: [phone] 
  Nick Lyon 
  Nick Moore 
 

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 [e-mail] or visit www.rns.com.

END

TSTGGUCCMUPBGCA

(END) Dow Jones Newswires

July 16, 2019 02:00 ET (06:00 GMT)