MACFARLANE Group has released a trading update, revealing that the board anticipates the group’s performance for the year ending 31 December 2025 will be in line with full year-expectations as set out in its trading update in October.
Following the tragic incident last month at the Pitreavie business, in which a worker died after an incident at the firm’s factory in Cumbernauld, Macfarlane said operations are ‘gradually recovering’. £1.2 million of investment in new equipment has been committed to restore the business to full operational capability by the end of Q1 2026, helping to ‘accelerate the process of recovery and creating capacity for growth’.
Macfarlane added that the group is positioning the pension scheme for a possible buy-in to reduce future risk and minimise any further requirement for cash contributions. As part of this process, a non-recurring accounting charge, currently estimated at between £2 million and £3 million, will be accrued to recognise an increase in the expected cost of historic equalisation of pensions.
Aleen Gulvanessian, chair of the group, said, “We continue to take steps to support the wellbeing of our colleagues at Pitreavie. The management team remains focused on stabilising the Pitreavie business and implementing actions to improve the performance of the distribution business.”
