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Macfarlane Group ahead of last year in trading update Richard Stuart-Turner Tuesday, May 11, 2021
Packaging giant Macfarlane Group has reported sales in the first quarter 15% ahead of the same period in 2020.
Macfarlane Group has completed two acquisitions so far this year
In the company’s Annual General Meeting trading update, which covers 2021 to date, the Glasgow-headquartered firm also said group profit for the year to date was “well ahead of that achieved in 2020”.
At the AGM in Glasgow today, chairman Stuart Paterson will say: “We have grown our Packaging Distribution business by 10%, with strong sales to our e-commerce retail customers and some signs of recovery from our industrial customers being offset by continued weakness in sales to our aerospace, high street retail and hospitality customers.
Shoppers in US By Stuart Paterson With the UK and US beginning to open up again following the swift rollout of the Covid-19 vaccines, they are poised to be the stand out cases in terms of economic recovery in the developed world this year. The enormous stimulus package in the US has certainly also played its part. If we combine Biden’s latest $1.9tn package with those of the Trump administration since the beginning of the pandemic, the US has injected the equivalent of 25 per cent of its gross domestic product in response to the Covid-19 crisis. We have to go back to the Second World War to observe deficits of the same magnitude.
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