Mpac expects profits to meet expectations following strong end to trading year

Packaging solutions firm Mpac anticipates its annual pre-tax profits and sales will come in line with expectations following a strong end to the trading year.

Mpac saw sales growth continue to accelerate in the second half of the year as a result of several new products being launched, boosting orders and providing it with a platform for continued growth in 2019.

The AIM-listed outfit also said "considerable progress" had been made in delivering on its strategic priorities and in resolving two "technically challenging legacy contracts".

Chief executive Tony Steels said: "The second half saw us secure a number of new contract wins that support the strategic objectives that we have put in place."

"We are well on the way to finalising the remaining legacy contract, and I am confident that we are back on track with a good platform for growth."

As of 1125 GMT, Mpac shares had shot up 11.93% to 122p.