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Macfarlane revenue holding up better than expected

By BFN News | 09:41 AM | Monday 06 July, 2020


Packaging and labeling company Macfarlane said its second-quarter revenue hadn't fallen as deeply as once feared. The company had in May said it expected sales in the three months through June to slip 20-25%, due to Covid-19 lockdowns. 'Our sales performance has been more resilient than previously anticipated in the second quarter of 2020 with total revenue only 7% down compared to the same period in 2019,' it said. Macfarlane said it had continued to experience weakness in the automotive, aerospace and high-street retail sectors. But that had been partly offset by underlying strength in the e-commerce, medical, food and household essentials sectors. 'This will result in sales for the half year, inclusive of the benefit of last year's acquisitions, being 3% down on the first half in 2019,' the company said. At 9:41am: (LON:MACF) Macfarlane Group PLC share price was +6p at 76.5p Story provided by StockMarketWire.com

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