Packaging group Macfarlane (MACF) has announced results for the 2021 calendar year and that 2022 trading in the early months has been “encouraging” and that it is confident it will deliver further growth.

I loved up 'the leading provider of corrugated packaging' DS Smith (SMDS) here in early December, observing that it was "boxing up an interesting opportunity for investors looking out over the next year. I would buy anticipating the share having a '4' in front of it at some point in 2019 as a minimum". Today's update is notable for two reasons. The first is that trading is going well. The second is that it has de-risked the balance sheet following the sale of its Plastics division…