MPAC Group, a U.K. packaging company, announced that its performance in the first half of the year met expectations set by the board. The company anticipates a stronger performance in the second half.
Although the completion of projects affected by supply-chain disruptions in 2022 impacted margins at MPAC Group’s original equipment business, the company stated that these effects have now been mostly resolved. It expects normalized margins in the second half.
MPAC Group reported a year-to-date order intake of £62.4 million ($80.2 million), significantly higher than the £23.8 million reported in the first half of the previous year. As of June, its order book amounted to £78.4 million, compared to £67.2 million at the beginning of the year.
Despite short-term economic challenges, MPAC Group remains optimistic about the future of the business. The company emphasized its strong prospect pipeline and order book, which is focused on companies in its core markets of healthcare and food and beverage. Additionally, MPAC Group highlighted its robust balance sheet, providing opportunities for investment and growth in the medium and long term.