Macfarlane Group profit dips at half-year
Macfarlane Group has reported a 3% fall in adjusted operating profit, from £9.8m to £9.5m year-on-year, impacted by the performance of the recently-acquired Pitreavie business.
The Glasgow-headquartered packaging group's results for the six months to 30 June also revealed that adjusted operating profit as a percentage of revenue decreased from 6.7% to 6.4%.
Overall group revenue was up 2% to £148.9m, compared to £146.6m at the same stage last year, with operating profit of £7.1m.
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