Packaging company wraps up year with extra 50 per cent in revenue

A global packaging and automation company has announced that its revenue increased by more than 50 per cent in 2019.

Mpac, which was founded in 1874, reported that its revenue jumped 52 per cent in the last financial year, growing from £58.3m to £88.8m.

The company also reported a 37 per cent increase in order intake compared to 2018, as well as a £6.1m increase in profit before tax.

During the period, the company acquired Lambert Automation, and said today that it had completed the “successful integration” of the firm.

Tony Steels, chief executive of Mpac, said: ’’2019 was a transformational year for Mpac. The group completed the acquisition of Lambert Automation and has successfully executed its integration into the organisation.

“Organic growth in order intake and revenue from original equipment and service was in excess of management targets set in our strategic plans.

“We have ended the year with a high-quality closing order book and with an increasingly healthcare-orientated customer base.

“The management team are focused on building upon this platform to deliver further organic growth, to leverage an ambitious new product development roadmap and to provide an enhanced service offering to our customers.

“We continue to evaluate potential complementary acquisition opportunities.

“The 2020 financial year has started well and in line with market expectations.

“The group intends to continue the development of the ‘One Mpac’ business model and accordingly the board believes that the group’s future prospects remain positive.’