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Insider UK

Business

Peter A Walker

Packaging group reports 10% revenue rise

Macfarlane Group has reported that revenue from continuing operations grew by 10% versus 2021 to £290.4m.

The Glasgow-headquartered provider of protective packaging's preliminary results for 2022 also revealed that profit before tax from continuing operations rose by 7% to £19.9m.

The group's packaging distribution arm achieved revenue growth of 8% from £239.5m to £259.7m year-on-year, 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.

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