Share Name Share Symbol Market Type Share ISIN Share Description
Mpac Group Plc LSE:MPAC London Ordinary Share GB0005991111 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 297.50 9,481 08:00:17
Bid Price Offer Price High Price Low Price Open Price
290.00 305.00 297.50 294.50 297.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 88.80 5.40 29.70 10.0 60
Last Trade Time Trade Type Trade Size Trade Price Currency
13:55:33 O 1,550 296.55 GBX

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Mpac Daily Update: Mpac Group Plc is listed in the Industrial Engineering sector of the London Stock Exchange with ticker MPAC. The last closing price for Mpac was 297.50p.
Mpac Group Plc has a 4 week average price of 267.50p and a 12 week average price of 209p.
The 1 year high share price is 372.50p while the 1 year low share price is currently 165.50p.
There are currently 20,166,540 shares in issue and the average daily traded volume is 45,930 shares. The market capitalisation of Mpac Group Plc is £59,995,456.50.
mactheknife1: As a former Tadcaster inhabitant, I have just heard of Mpacs intention to make quite a number of Lambert employees redundant. A massive blow to a small town with employees working their whole lives there.How this could affect the share price, lets see.Dyor etc etc
investoree: CT So much for forming a nice base for the next leg up I have topped up with MPAC several times over the last few days at prices up to £2.71 but despite this and our belief that the company is undervalued there seems to be continual downward pressure on MPAC's share price.
fuji99: Fully agree Tiger as Mpac did upgrade their already upgraded trading update numbers this year to reach £3.75. I think their very efficient packaging system incorporating Artificial Intelligence (AI) for remote follow up and support is becoming very popular worldwide. Adding to this a very important statement: Business is growing in the US. This is very promising indeed. A 50 million market cap will easily become a 500 million in just a few years. This was always how hidden gems became huge companies. Mpac R & D is very innovative indeed; top all this with an excellent management and you have a receipt for a great company in the making. When it'll come under many radars, there won't be enough shares remaining to buy in the very limited pot of issued 20 million. Those who understood the huge prospects buy and hold. We know what will happen to the share price under such conditions.
standish11: Packaged for economic recovery Mpac (MPAC:263.5p), a small-cap niche packaging engineering business has issued a reassuring pre-close trading update ahead of interim results on Thursday, 3 September 2020. Entering the second half, the order book is up almost 14 per cent year-on-year to £45.4m, and there have been no Covid-19 cancellations. All sites have been able to remain open throughout the pandemic, so providing essential support for customers in the pharmaceutical, healthcare, nutrition and beverage industries. Mpac continues to win new orders with original equipment manufacturers (OEMs) and service orders, too, highlighting resilience in the healthcare sector (accounting for three quarters of annual sales), and in the Americas region (almost two-thirds of sales). Moreover, debtor days remain at pre-Covid-19 levels, and net cash has surged from £18m to £22.1m since the start of 2020, driven by tight working capital management, deferral of discretionary spend and access to government support. Admittedly, there will be an impact on Mpac’s operations this year. Analyst Sanjay Jha at Panmure Gordon estimates a 24 per cent decline in revenue to £67.6m ahead of a strong recovery in 2021 when he forecasts sales of £81.5m. On this basis, expect operating profit of £2m rising sharply to £5.3m in 2021, although in the absence of management guidance I feel that Panmure are being far too bearish on this year’s profit estimates and overly cautious on their 2021 numbers. In any case, Mpac's shares are only rated on 10.5 times low-ball 2021 EPS estimates, representing a 36 per cent discount to the UK engineering sector average even though the company has net cash of 110p a share. In my opinion, Mpac’s current rating fails to adequately factor in a pick up in second half orders (thus reducing the 2020 profit shortfall) as lockdown restrictions are eased and potential for a stronger than forecast earnings rebound in 2021. Mpac’s management is ahead of the game, having put in place a ‘Fast Recovery’ plan to position the company for growth as activity levels return to normalised levels. Initiatives include the launch of a new website, a virtual exhibition for customers to demonstrate the range of newly developed products, and offering customers digital solutions for artificial intelligence-enabled equipment and robotics in their production facilities and warehouses. The Covid-19 crisis will undoubtedly accelerate these trends as more blue-chip clients reappraise their manufacturing efficiency. Mpac’s share price is up 22 per cent since I last rated the shares a buy (‘Coronavirus winners’, 9 March 2020) and the holding has delivered a 66 per cent gain since I included the shares, at 156p, in my 2018 Bargain Shares Portfolio. A recovery back to my 330p target price, which was surpassed in February when the shares hit a 16-year high of 377p, is not unrealistic. Buy.
fuji99: I think the market was especially impressed by how the management overcame a unique hard circumstance that never happened before: A pandemic where every business activity was almost frozen, a situation nobody was prepared to deal with. Mpac have quickly managed to adapt and run the business in an efficient way. This is what really determines the strength and the future prospects of any company. Then, comes this statement confirming their resilience - instead of saying "we are slowing down with orders going down" they stated: "Our order book going into the second half of 2020 of GBP45.4m remains strong (30 June 2019: GBP39.9m) and to date, no orders have been cancelled due to COVID-19." Tiger: I won't be surprised to see the company snapped up before the share price runs away because a 48 million company making 88 million turnover should be peanuts to a larger competitor. IMO anything below £6/7 is undervalued.
elsa7878: Update next week. March statement reaffirmed. Some delays / deferrals. Sectors they operate in less affected than the general market. Cash 50% of market cap. Is a near 50% drop in the share price warranted?
nallen1: Share price: 307.5p (up 1% today, at 11:45)No. shares: 20.2mMarket cap: £62.1mFull year resultsI was bowled over by the trading update from this company a little while ago, here on 8 Jan 2020. The most striking thing was repeated, and very substantial upgrades to forecast earnings - tripling in one year! You don't see that very often. I've been looking forward to having a proper look at it, so today is my opportunity. This might take some time to prepare, so please bear with me.Here are my notes from reviewing the results announcement -2019 was clearly a very good year, as has been previously flagged by the companyRevenues up 52% to £88.8m, of which 24% growth was organicAcquisition of Lambert is described as a "strategic milestone", in May 2019Healthcare-orientated customer base - sounds good, growing sectorsUnderlying EPS 39.5p (LY: 4.5p!) - adjustment for pension costs not necessarily justified, as it is an ongoing & repeat costStatutory EPS 29.7p - more conservative measure that some people may be more comfortable with - which is still showing impressive growthDivis re-starting, with a modest 1.5p final divi - so not an income stock yet2020 has started well, in line with expectations2020 opening order book flat vs last year at £52.2m (not clear if this is LFL, or including Lambert) - possibly slightly disappointing? Has the growth surge paused for now I wonder?Coronavirus - currently doesn't expect delay to parts. China is small element of supply chain. But, could be knock on effect if other suppliers impacted by China.Huge pension schemes - £423.6m assets, £403.2m liabilities, on an accounting basis - technically a surplus, but since deficit overpayments are calculated on the actuarial numbers, then I would delete the £20.4m pension asset from the balance sheet. Investors here do need to properly understand the pension fund situation.Annual pension recovery payments of c.£3m - are material cash outflows, and help explain why divis are so small. Not to be ignored!Tax charge - NB note the P&L tax charge is negative at +£0.3m - this significantly boosts EPS, so needs to be adjusted to a normalised tax charge to properly value this shareBalance sheet - overall looks fine, even after adjusting out the pension scheme asset, and intangible assets. Cash position is fine..My opinion - the figures look good. Although I think it's important to adjust the EPS figures down by normalising the tax charge, and possibly reversing back in some of the adjustments (especially pension fund related costs).My big question, is how did the company achieve such a surge in performance, and is it sustainable? It could have been a one-off surge in orders, or it could be the beginning of a run of strong performance. I don't feel able to judge that, given no knowledge of the sector, nor its competitors. I think finding out about that should be the key focus of investors research. Remember that, when competitors find out how a company is achieving strong results, then they copy it!Overall though, I think this looks interesting & worth a closer look.If we're going into a global recession, which strikes me as likely due to coronavirus, then orders could be delayed, or dry up. Therefore, I'm not sure this is necessarily a good time to buy the shares. But it's on my watchlist for a possible purchase later on, when the situation becomes clearer re coronavirus.I have to leave it there for today. See you tomorrow.Regards, Paul.
mrnumpty: So , cash of £ 7.5 M is 12% of the market cap of £ 62 M , which equates to 36p of the current share price of £ 3 . So , by deducting the cash ( 36p ) from the current share price ( 300p ) leaves 264p . By dividing this ex-cash value by 39.9p suggests to me a p/e ratio of 6.6 . In addition , dividend restored . Good luck all .
fuji99: @Dan - You are comparing a laser guided equipment manufacturer for builders with a very versatile and fast packaging machines manufacturer for a variety of industries. Mpac is keeping upgrading its numbers while Som has just recovered from bad weather effects in the States (its share price shows it). In terms of potential, Som depends on the health of the economy wordwide while packaging for food manufacturers or pharmaceutical companies is a non-stop and around the clock process - This is why Mpac keeps upgrading its projections. So if you want to promote Som, I wouldn't buy a tooling manufacturer for builders while the world economy is stagnating with the construction industry almost frozen. So a simple blip would affect Som while Mpac is riding the waves head high under any weather. Watch this space, just till the 4th of March.
phar lap: Paul Scott on Stockopedia hTTps:// MPAC (LON:MPAC) Share price: 238p (up 15% today, at 12:18) No. shares: 20.2m Market cap: £48.1m Full year trading update Mpac Group plc, a global leader in 'Make, Pack, Monitor and Service' high speed packaging and automation solutions, provides a pre-close trading update (unaudited) for the year ended 31 December 2019. This used to be called Molins, making tobacco packing machines. Presumably the name change, and more generic self-description, was intended to put PC/ethical investors off the scent! EDIT - I'm told that the tobacco machinery division was sold some time ago, so looks like that isn't relevant any more. End of edit. Continuing the theme of companies out-performing & getting repeated earnings upgrades, look at this! Earnings forecasts (broker consensus) has almost tripled in the last year - spectacular stuff; This begs 2 questions; 1) What's going on to drive such an outstanding improvement in profitability? and, 2) Is it sustainable, or just a one-off good year? (EDIT: or maybe a large customer programme with a finite end point?) I won't have time here today to drill down to that level of detail, but am certainly going to be printing off some broker notes, and doing some deeper research, and will report back at a later date. Positive update today - this sounds great, coming on top of the very substantial forecast increases already; On 5 September 2019, the Group reported that its profits for FY19 were expected to be significantly above the Board's and market expectations, with the momentum gained earlier in the year continuing throughout the second half of the year. The Board is delighted to announce that since that date, momentum in the business has continued to accelerate and we expect to report a full year trading performance ahead of these upgraded expectations. This is primarily as the result of a strong Q4 order intake and accelerated project execution. Outlook - this sounds positive for continued strong performance in 2020; "I am pleased with the overall business development and the high level of performance delivered by our global colleagues which has enabled us to report a further trading performance upgrade for 2019. Order intake and revenue growth have continued for both Original Equipment and Services and the Group will close the year with a strong order book for execution in 2020. I am confident that we will be able to report an excellent financial performance for 2019 and improved outlook for 2020 which gives us confidence for the future progress of the business." Pension deficit - is large still, so this needs to be factored into the valuation - i.e. it's the reason the PER is low. That said, if the underlying business is now trading its socks off, then the pension deficit becomes far less of an issue. My opinion - I've not looked at this company properly for over 3 years, so am not going to rush out an ill-informed opinion today (that doesn't usually stop me, I hear you cry!). However, today's update, and the latest note from Equity Development, sound very interesting. Therefore I'm going to flag this as definitely worthy of a closer look. It's tempting to buy a few shares straight away, and then do the detailed research later, when something crops up that has such strong earnings momentum as this.
Mpac share price data is direct from the London Stock Exchange
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