Final Results for the year to 31 December 2017

*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.

Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy

To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.

	2017	2016
	£m	£m
Profit/(loss) before tax	4.3	(3.1)
Defined benefit pension scheme administration costs	0.8	0.9
Reorganisation costs	0.7	0.8
Profit on sale of surplus property	(4.8)	-
Net financing expense /(income) on pension scheme balances	0.1	(0.1)
Underlying profit/(loss) before tax	1.1	(1.5)

	2017 £m	2016 £m
Profit/(loss) for the period	1.6	(0.6)
Other comprehensive income/(expense)
Items that will not be reclassified to profit or loss Actuarial gains/(losses) Tax on items that will not be reclassified to profit or loss	9.1 (3.2)	(6.3) 2.0
	5.9	(4.3)
Items that may be reclassified subsequently to profit or loss Currency translation movements arising on foreign currency net investments Translation reserve recycled on disposal Effective portion of changes in fair value of cash flow hedges Tax on items that may be reclassified to profit or loss	0.6 (1.1) 0.4 -	3.7 - 0.7 (0.2)
	(0.1)	4.2
Other comprehensive income/(expense) for the period	5.8	(0.1)
Total comprehensive income/(expense) for the period	7.4	(0.7)


	Note	2017 £m	2016 £m
Non-current assets Intangible assets Property, plant and equipment Investment property Other receivables Employee benefits Deferred tax assets	4	0.9 4.0 0.8 0.8 17.6 1.7	15.2 8.5 0.8 - 4.6 4.6
		25.8	33.7
Current assets Inventories Trade and other receivables Current tax assets Cash and cash equivalents		2.4 19.9 0.1 30.3	13.0 24.5 0.2 9.0
		52.7	46.7
Current liabilities Bank overdraft Trade and other payables Current tax liabilities Provisions		- (20.9) (0.4) (1.0)	(0.3) (25.9) (0.4) (1.7)
		(22.3)	(28.3)
Net current assets		30.4	18.4
Total assets less current liabilities		56.2	52.1
Non-current liabilities Interest-bearing loans and borrowings Employee benefits Deferred tax liabilities	7 4	(0.9) (6.2) (6.3)	(7.9) (6.8) (2.0)
		(13.4)	(16.7)
Net assets		42.8	35.4
Equity Issued capital Share premium Reserves Retained earnings		5.0 26.0 5.8 6.0	5.0 26.0 5.9 (1.5)
Total equity		42.8	35.4

	Note	2017 £m	2016 £m
Operating activities Operating profit/(loss) from continuing operations Non-underlying items included in operating profit Amortisation Depreciation Profit on sale of property, plant and equipment Other non-cash items Pension payments Working capital movements: - decrease in inventories - increase in trade and other receivables - increase in trade and other payables - decrease in provisions		4.6 1.5 0.3 0.6 (4.8) - (4.9) 0.7 (6.4) 3.1 (0.1)	(2.9) 1.7 0.3 0.7 - 0.2 (2.0) 0.7 (3.5) 7.2 -
Cash flows from continuing operations before reorganisation Cash flows from discontinued operations Reorganisation costs paid	8	(5.4) 4.4 (0.8)	2.4 4.2 (0.2)
Cash flows from operations Taxation paid		(1.8) (0.3)	6.4 (0.2)
Cash flows from operating activities		(2.1)	6.2
Investing activities Proceeds from sale of property, plant and equipment Capitalised development expenditure Acquisition of property, plant and equipment Net proceeds on disposal of discontinued operations Net cash flow from discontinued operations	8	6.8 (0.1) (1.6) 25.9 (0.3)	0.3 (0.9) (0.5) - (0.9)
Cash flows from investing activities		30.7	(2.0)
Financing activities Interest paid Purchase of own shares Net decrease against revolving facilities Dividends paid		(0.2) (0.1) (7.0) _	(0.3) - (5.2) (0.5)
Cash flows from financing activities		(7.3)	(6.0)
Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at 1 January Effect of exchange rate fluctuations on cash held	6	21.3 8.7 0.3	(1.8) 9.8 0.7
Cash and cash equivalents at 31 December		30.3	8.7

	12 months to 31 Dec 2017			12 months to 31 Dec 2016
	OE £m	Service £m	Total £m	OE £m	Service £m	Total £m
Revenue Americas EMEA Asia Pacific	16.4 15.8 8.2	6.8 4.6 1.6	23.2 20.4 9.8	13.6 11.2 4.0	6.3 4.6 1.8	19.9 15.8 5.8
Total	40.4	13.0	53.4	28.8	12.7	41.5
Gross profit	9.2	5.3	14.5	5.4	5.6	11.0
Selling, distribution & administration			(13.2)			(12.2)
Underlying operating profit/(loss) Unallocated non-underlying items included in operating profit/(loss)			1.3 3.3			(1.2) (1.7)
Operating profit/(loss) Net financing expense			4.6 (0.3)			(2.9) (0.2)
Profit/(loss) before tax from continuing operations			4.3			(3.1)

	Revenue (by location of customer)
Continuing operations	2017 £m	2017 %	2016 £m	2016 %

UK Europe (excl. UK) Africa & Middle East USA Americas (excl. USA) Asia Pacific	7.3 12.7 0.4 18.5 4.7 9.8	14 24 1 35 9 17	4.4 9.8 1.6 15.2 4.7 5.8	11 24 4 37 11 13
	53.4	100	41.5	100


Income statement for the period to 1 August 2017	2017 £m	2016 £m
Revenue from trading activities	21.1	38.6
Costs from trading activities	(19.1)	(36.4)
Operating profit from trading activities	2.0	2.2
Financial income from trading activities	0.1	0.1
Profit before tax from trading activities	2.1	2.3
Income tax expense from trading activities	(0.2)	(0.5)
Profit after tax from trading activities	1.9	1.8
Costs incurred on disposal	(1.1)	-
Loss on disposal of net assets	(0.8)	-
Tax on disposal of net assets	(1.9)	-
Foreign exchange gains recycled through income statement	1.1	-
(Loss)/profit after tax	(0.8)	1.8


Cash flow statement for the period to 1 August 2017	2017 £m	2016 £m
Operating activities
Operating profit	2.0	2.2
Non-underlying items included in operating profit	-	0.1
Amortisation	0.6	1.2
Depreciation	0.4	0.6
Net movements in working capital	1.4	0.2
Cash flows from operations before reorganisation	4.4	4.3
Reorganisation costs paid	-	(0.1)
Cash flows from operating activities	4.4	4.2

Investing activities
Cash flows from investing activities	(0.3)	(0.9)
Cash flows from investing activities	(0.3)	(0.9)
Net increase in cash and cash equivalents	4.1	3.3

6 March 2018

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No. 596/2014

Mpac Group plc

Mpac, the global packaging solutions group, today announces its results for the 12 months to 31 December 2017

Net current assets

Total assets less current liabilities

Net assets

Operating activities

Operating profit/(loss) from continuing operations

Amortisation

Depreciation

Profit on sale of property, plant and equipment

Other non-cash items

Pension payments

Working capital movements:

- decrease in inventories

- increase in trade and other receivables

- increase in trade and other payables

- decrease in provisions

Cash flows from continuing operations before reorganisation

Cash flows from discontinued operations

Reorganisation costs paid

Cash flows from operations

Taxation paid

Cash flows from operating activities

Investing activities

Proceeds from sale of property, plant and equipment

Acquisition of property, plant and equipment

Net proceeds on disposal of discontinued operations

Net cash flow from discontinued operations

Cash flows from investing activities

Financing activities

Interest paid

Purchase of own shares

Net decrease against revolving facilities

Dividends paid

Cash flows from financing activities

Cash flows from operating activities

Companies

UK 100

Latest directors dealings