Macfarlane to restructure

 

Packaging and plastics company Macfarlane Group has embarked on a radical restructuring of its operations to stem dwindling sales and profits.

Macfarlane will reform under four divisions comprising 13 companies and may sell loss-making bottle tops maker Daniel Montgomerie.

Substantial job losses among the 2000 staff are expected. Interim pre-tax profits to 30 June fell 14% to £6 million on sales down 4.1% to £91.3 million. The dividend is unchanged at 1.58p.