Macfarlane Group PLC Interim Management Statement
19 May 2008

Macfarlane Group PLC today publishes its first Interim Management Statement for 2008 to date, ahead of its Annual General Meeting, which takes place tomorrow, 20 May, at 12 noon at the Glasgow Thistle Hotel, Cambridge Street, Glasgow.

The positive trading reported at the time of the preliminary announcement on 18 March 2008 has continued with Group revenue in the first four months of the year 15% ahead of the same period in 2007. Each of the Divisions is making good progress with Distribution revenue 17% ahead of last year (8% organic, 9% acquisition) and Manufacturing 5% ahead of last year.  The Group profit performance in the first four months is significantly ahead of last year and in line with the Board’s expectations.

The acquisition of Online Packaging was concluded on 7 January 2008 for a total consideration of £5.1m, of which £4.3m was payable immediately with deferred consideration of £0.8m payable in the first quarter of 2009, subject to certain targets being achieved in 2008.  The Online business has performed well since the acquisition.  In December 2007 agreement was reached to sell a surplus investment property and the proceeds of £2.4m were received on 8 January 2008.  Whilst debt has increased as a result of these transactions, the balance sheet remains strong and is capable of supporting our programme of value enhancing acquisitions.

Although the general economic environment in the UK continues to be uncertain strong sales growth and our results in the early months of 2008 confirm our confidence in the management actions we are implementing.

Archie Hunter, Chairman of Macfarlane Group, said “In recent years, considerable effort has been made to rebuild and refocus to create a solid foundation from which the Group can progress.  Our extensive network, customer service offering and our experienced and committed team, position Macfarlane well for the future.  These factors have contributed to significant progress and a performance to date in 2008, which is well ahead of the same period last year.  Notwithstanding the uncertainty in the economic environment, the Board believes that there are good prospects for further significant advances in profitability in the coming years.”

Macfarlane Group Announces Results For Year To 31 December 2007
18 March 2008

Archie Hunter, Chairman of Macfarlane Group PLC today said:-
“2007 was a year of significant progress for Macfarlane Group as we continued to re-shape the business and focus on our core activities, substantially increasing profits from our continuing operations in the process.
2007 saw the benefits of the strategy set out three years ago.  We have shown the ability to grow the business significantly and we see the potential for further progress in 2008."

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Macfarlane Group PLC acquires Online Packaging Limited

7 January 2008

In line with the Group’s strategy to develop its Packaging Distribution businesses, Macfarlane Group PLC (“Macfarlane”) announces that it has today concluded an agreement to acquire Online Packaging Limited (“Online”), for a cash consideration of approximately £5.1 million.  £4.3 million of the consideration will be paid immediately, with the deferred consideration of up to £0.8 million becoming payable in the first quarter of 2009, subject to certain trading targets being met in the year to 31 December 2008.

Online was established in 1994 and is based in Gloucester, with additional sites in Wakefield and Hinckley. Online complements Macfarlane’s existing Packaging Distribution activities in the UK, particularly in the South-West and in Yorkshire.  The current management team at Online will remain with the business post-completion.

The business made an operating profit of £0.6 million on turnover of £7.5 million in the year to 31 August 2007 (audited).  Gross and net assets in the audited accounts at 31 August 2007 totalled £3.8 million and £1.0 million respectively.

Macfarlane’s Chief Executive, Peter Atkinson commented: “Online is a successful company and this acquisition further demonstrates our commitment to the strategy of developing our Packaging Distribution business.  We are also delighted that the Online management team will remain with the business and look forward to the experience and value they will bring to Macfarlane Group".

Macfarlane Group PLC gives a trading update for 2007 and disposes of surplus property

20 December 2007

Considerably more focus has been brought to the Group’s activities in the second half of the year following the announcement of the disposal of the US/Mexican operations at the start of October 2007.  The Group is intent on continuing this focus and seeking value-enhancing acquisitions to accelerate growth and financial returns from our key businesses.

Disposal of property

The Group has concluded an agreement to sell a surplus investment property at Kirkintilloch for a total cash consideration of £2.3 million after attributable expenses.  The disposal will produce a realised profit of £0.6 million in the current financial year to 31 December 2007.

Interim results 2007
11 September 2007