Shares of Glasgow-based packaging firm Macfarlane Group rose 8% after it said its profit before tax for 2016 to date “continues to be well above the corresponding period in 2015 given the contribution from acquisitions” and that this trend is expected to continue for the remainder of 2016.
In a trading update for the period from June 30 to October 31, Macfarlane said the momentum it achieved in the first half of 2016 had strengthened in the second half of the year.
“Assuming that the group benefits from the normal uplift in the trading cycle in the final quarter of 2016 through our focus on the e-commerce sector, the board is confident that its full year expectations will be met,” said the firm.
Macfarlane said its acquisitions continued to perform well and that it was particularly encouraged by its most recent acquisition, Nelsons for Cartons & Packaging, completed in July 2016.
Macfarlane Group chairman Graeme Bissett said: “I am pleased to report that Macfarlane Group’s performance in the second half of 2016 is demonstrating further strong progress.
“The board remains confident that our full year expectations will be met.”