Mpac Group PLC AGM Statement
May 15 2024 - 2:00AM
RNS Regulatory News
RNS Number : 4333O
Mpac Group PLC
15 May 2024
15 May 2024
AIM:
MPAC
Mpac Group
plc
(''Mpac'', or
"Company")
AGM
statement
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:
"Mpac has started the year well and
the strong momentum built in H2 2023 has continued into 2024 with
year-to-date revenue and underlying profit
before tax above the prior year.
Accordingly, Mpac is on track to
meet market expectations for the full year.
As in previous years, we anticipate a second half
weighting to the year, with the current order book providing good
coverage over the full year revenue forecast.
The Company continues to maintain a
strong balance sheet in order to fund its growth. Working capital
has expanded in the early months of 2024 due to the timing of order
intake and project milestones in H1. Therefore, we anticipate
reporting a net debt position at end of H1 2024 before reverting to
a net cash balance in the second half as the working capital
position unwinds.
The Company looks forward to
providing a more detailed update on trading following the end of
the first half of 2024."
For
further information, please contact:
Mpac
Group plc
Adam Holland, Chief
Executive
Will Wilkins, Group Finance
Director
|
Tel: +44(0)24 7642 1100
|
Shore Capital (Nominated Adviser &
Broker)
Advisory
Patrick Castle
Broking
Henry Willcocks
|
Tel: +44(0)20 7408 4050
|
Liberum (Joint Broker)
Edward Mansfield
Will King
Anake Singh
Hudson Sandler
Nick Lyon
Nick Moore
|
Tel: +44 (0) 20 3100 2000
Tel: +44 (0) 20 7796 4133
|
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END
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