Mpac H1 order intake 'significantly' higher year-on-year

Packaging and automation solutions provider Mpac Group said on Thursday that the strong momentum witnessed in the second half of 2020 had continued into the first half of 2021.

For the six months ended 30 June, order intake across all regions was "significantly above" 2020's Covid-impacted first-half, with the Americas region performing "particularly well".

As a result, Mpac's order book going into the second half of 2021 was above its opening order book of £55.5m, providing "enhanced coverage" over second-half revenue forecasts.

While the AIM-listed firm stated that travel restrictions continued to present "challenges to new business development" and machine installations, the impact was said to be largely mitigated through the use of digital technology to provide customers with "the highest standards of customer service".

Chief executive Tony Steels said: "The outlook is positive based on trends in new prospects and customer investment discussions, and we enter the second half of 2021 with both a strong order book and a developing prospect pipeline and we remain confident that we can leverage the One Mpac operating model to deliver sustainable profitability".

As of 0940 BST, Mpac shares had dipped 0.052% to 477.25p.