Updates

Mpac - Order intake in year >£100m

April 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

MPAC, which supplies full-line packaging solutions for the healthcare and food & beverage sectors, has reported FY21 revenue up 13% to £94.3m with pretax profit up 36% to £8.6m for eps of 39.7p. Cash was £14.5m. The swing factor continues to be Switchback (acquired in Sept 2020), which continues to perform ahead of expectations - and helped electrify sales and the order book. Mpac clearly lucked out with its Switchback deal as it gave it a physical location in the US and chief executive Tony Steels says it’s been business pretty much as usual in the US versus Europe, which has been more restrictive in dealing with the pandemic. Consequently the Americas market was strong and accounted for sales of £63.3m (67% of the total). ...

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