Macfarlane Group (MACF)

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Support

Index:

FTSE Small Cap

85.00p
   
  • Change Today:
      2.50p
  • 52 Week High: 113.50
  • 52 Week Low: 63.50
  • Currency: UK Pounds
  • Shares Issued: 157.81m
  • Volume: 68,553
  • Market Cap: £134.14m
  • RiskGrade: 151

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Macfarlane to stay profitable despite demand slump

By Sean Farrell

Date: Tuesday 12 May 2020

LONDON (ShareCast) - (Sharecast News) - Macfarlane said it expected to stay profitable in 2020 despite demand for its packaging products falling by up to a quarter during the Covid-19 crisis.
Britain's biggest packaging distributor said demand for boxes and labels would fall by 20% to 25% during the second quarter from a year earlier. Customers in sectors such as vehicle manufacturing, aerospace and retail have been badly hit by the economic shutdown, it said.

Chairman Stuart Paterson told Macfarlane's annual general meeting the company expected the second quarter to be profitable but that profit would be well below than in the first three months of the year. The company, whose year ends in December, has furloughed about 30% of its more than 925 employees under the UK's job retention programme.

The Glasgow-based company cancelled its final dividend in March to save £2.8m of cash. Net bank debt has fallen to less than £6m from £12.7m at the end of December helped by £4m of deferred tax and bonuses and board salary cuts. Paterson said there was "significant headroom" on its £30m loan facility with Lloyds Banking Group.

"Based on actions taken to date and current levels of trading, we expect the business to remain profitable in 2020 and to operate within the current borrowing facility," Paterson said.

Paterson reiterated previous guidance that the board remained committed to paying dividends.

"Once trading has recovered in line with more normal levels and we have more clarity about the longer-term outlook, the board's intention is to recommence dividend payments either by augmenting regular dividends or by declaring a special dividend," he said.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MACF Market Data

Currency UK Pounds
Share Price 85.00p
Change Today 2.50p
% Change 3.03 %
52 Week High 113.50
52 Week Low 63.50
Volume 68,553
Shares Issued 157.81m
Market Cap £134.14m
RiskGrade 151

MACF Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
53.72% below the market average53.72% below the market average53.72% below the market average53.72% below the market average53.72% below the market average
21.82% below the sector average21.82% below the sector average21.82% below the sector average21.82% below the sector average21.82% below the sector average
Price Trend
3.61% above the market average3.61% above the market average3.61% above the market average3.61% above the market average3.61% above the market average
13.04% above the sector average13.04% above the sector average13.04% above the sector average13.04% above the sector average13.04% above the sector average
Income
15.02% below the market average15.02% below the market average15.02% below the market average15.02% below the market average15.02% below the market average
10.81% above the sector average10.81% above the sector average10.81% above the sector average10.81% above the sector average10.81% above the sector average
Growth
24.39% above the market average24.39% above the market average24.39% above the market average24.39% above the market average24.39% above the market average
Sector averageSector averageSector averageSector averageSector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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MACF Dividends

  Latest Previous
  Interim Interim
Ex-Div 10-Sep-20 19-Sep-19
Paid 08-Oct-20 10-Oct-19
Amount 0.70p 0.69p

Trades for 25-Sep-2020

Time Volume / Share Price
16:23 25,000 @ 84.00p
15:15 400 @ 84.04p
14:56 9,000 @ 84.25p
14:55 1,860 @ 85.11p
14:48 2,338 @ 85.11p

MACF Key Personnel

Finance Director John Love
CEO Peter Atkinson
Chair Stuart R Paterson

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