Business
Annual Results 2022
Annual Results 2022.
About this update from Macfarlane Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n 23 February 2023\n \n \n \n MACFARLANE GROUP PLC\n \n \n (\"MACFARLANE GROUP\", \"THE COMPANY\", \"THE GROUP\")\n \n \n \n \n \n ANNUAL RESULTS 2022\n \n \n \n Results ahead of market expectations and 2021\n \n \n \n \n \n \n \n \n \n FINANCIAL HIGHLIGHTS\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n \n \n £000\n \n \n \n \n \n \n 2021\n \n \n \n \n £000\n \n \n \n \n \n \n Increase\n \n \n \n \n %\n \n \n \n \n \n \n \n \n Continuing operations\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenue\n \n \n \n \n 290,431\n \n \n \n \n 264,465\n \n \n \n \n 10%\n \n \n \n \n \n \n Operating profit before amortisation1\n \n \n \n \n 25,073\n \n \n \n \n 23,366\n \n \n \n \n 7%\n \n \n \n \n \n \n Operating profit\n \n \n \n \n 21,496\n \n \n \n \n 20,055\n \n \n \n \n 7%\n \n \n \n \n \n \n Profit before tax\n \n \n \n \n 19,934\n \n \n \n \n 18,665\n \n \n \n \n 7%\n \n \n \n \n \n \n \n Continuing and discontinued 2\n \n \n operations\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Profit for the year\n \n \n \n \n 15,637\n \n \n \n \n 12,598\n \n \n \n \n 24%\n \n \n \n \n \n \n Interim and proposed Final dividend (pence)\n \n \n \n \n 3.42p\n \n \n \n \n 3.20p\n \n \n \n \n 7%\n \n \n \n \n \n \n Basic earnings per share (pence)\n \n \n \n \n 9.89p\n \n \n \n \n 7.98p\n \n \n \n \n 24%\n \n \n \n \n \n \n ·\n Revenue from continuing operations grew by 10% versus 2021 to £290.4m.\n \n \n ·\n Profit before tax from continuing operations at £19.9m increased by 7% which is reflected in the increase in dividend.\n \n \n ·\n Basic and diluted earnings per share were 9.89p per share (2021: 7.98p per share) and 9.78p per share (2021: 7.90p per share) respectively.\n \n \n \n Packaging Distribution\n \n \n \n ·\n Packaging Distribution achieved revenue growth of 8% to £259.7m (2021: £239.5m) through the recovery of input prices and the benefits from the acquisitions of Carters Packaging in March 2021 and PackMann in May 2022 which offset reduced demand from e-commerce customers.\n \n \n ·\n In line with our strategy to support our customers by increasing our geographic coverage we acquired PackMann in Germany in May 2022. PackMann revenues are in line with our expectations, but operating profit has been impa...