The increase is on the back of a three-year strategy that included both organic and acquisitive growth.
The Glasgow-headquartered packaging manufacturer and supplier posted turnover from continuing operations up 10% to £131.4m and its packaging distribution business reported an increase of 12% to £103.7m.
Manufacturing operations grew by 3% with operating profits increasing from £1.7m to £1.8m.
The company said it believed there is "significant opportunity" for the two arms of the buisness to work even more closely in the future.
Group chairman Archie Hunter said 2008 was a year of "further significant progress" for the business.
"The shape and structure of Macfarlane Group is now established for the medium term," he said.
"While the current economic climate is unwelcome, we have identified opportunities to continue to grow the business further in time and we see the potential for more progress."
During 2008, the company made several acquisitions, including Online Packaging and Allpoint Packaging.
However, it also witnessed cost pressures on raw materials, fuel, energy, along with a "clear slowing down" of demand due to the weakening UK economy.
Future plans for the group include increasing new business activity to accelerate growth, and the recovery of likely further supplier price changes.
The company predicted that trading conditions for would be "extremely challenging".
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Macfarlane Group confident following positive revenue results
