Macfarlane Group (MACF) Trading Update summary

Financial performance and outlook

• Performance for the year ending 31 December 2025 is expected to align with market expectations, with adjusted operating profit consensus at £19.1m.

• A non-recurring accounting charge of £2m–£3m will be accrued due to increased expected cost of historic pension equalisation.

Operational updates

• Operations at the Pitreavie business are gradually recovering after a recent incident, with £1.2m invested in new equipment to restore full capability by end of Q1 2026.

• Actions are being implemented to improve performance in the Distribution business.

Strategic initiatives

• The pension scheme is being positioned for a possible buy-in to reduce future risk and minimise further cash contributions.

• Focus remains on supporting colleague wellbeing and stabilising affected business units.