PACKAGING and labels firm Further to that the
Turnover in 2013 edged up 1.5% from pound(s)141.8m to pound(s)143.9m helped by growth in the internet retail sector.
The packaging and distribution arm saw revenue rise from pound(s)114.8m to almost pound(s)116.3m while the manufacturing side increased from around pound(s)27m to pound(s)27.6m.
Group profit before tax and exceptional items grew 13% from pound(s)4.5m to pound(s)5.1m.
After taking off exceptional items - including lease termination and adjusted carrying charges of a property - pre-tax profits came in at pound(s)4.7m, against pound(s)5.5m in 2012 when Macfarlane booked a net exceptional credit of pound(s)1m.
Macfarlane narrowed its net debt from pound(s)6.8m to pound(s)5.9m while its pension deficit reduced from pound(s)18.9m to pound(s)15.9m.
As a result of the financial performance it plans to increase its annual dividend from 1.55p to 1.6p, the first increase for three years.
"We have recognised the economy is going to continue to be difficult. If green shoots come, and we are not seeing them yet, then that will be of incremental benefit to us.
"We have to keep growing our profits regardless of what is happening in the economy. Five consecutive years of good profit growth is reflecting the fact we can not only grow sales but continue to chip away at the cost base at the same time."
Those included online department store The Hut, clothes retailer
While he chose not to name the new clients he said one was a household brand name.
The re-sealable labels arm was said to have experienced strong growth in
Macfarlane, which employs in the region of 180 people in
"We have been doing a lot of work and have got a number of conversations ongoing at the moment. So we are very enthusiastic about the fact we will be doing something in 2014 on the acquisition front.
"There are geographic gaps in our network we would like to fill and there's capacity we have got in our network we would like to utilise more effectively.
"Those will be the two key priorities in terms of the acquisition targets. We have a lot of effort going into that at the moment."
Macfarlane's house broker
It said better trading trends seen at the end of last year and into the early weeks of this year "clearly bode well" for performance in 2014.
Macfarlane shares closed the day up 4p to 39p.
PACKAGING and labels firm
Further to that the