TIDMESNT
RNS Number : 3897L
Essentra plc
19 April 2018
ESSENTRA PLC
ANNUAL GENERAL MEETING - TRADING UPDATE
At Essentra plc's ("Essentra" or "the Company") Annual General
Meeting ("AGM") to be held today, Paul Lester, Chairman, will make
the following statement.
Current trading
Trading for the financial year to date has been in line with the
Board's expectations, with the Company delivering like-for-like
revenue growth of c. 2% for the period (c. +3%, adjusting for the
closure of the Newport IP5 cartons site at the end of 2017).
Strong growth in Components was driven by all geographic
regions, with a stable result in Filters reflecting a continued
good performance in China and ongoing pipeline development of
innovative new products. The rate of decline in Packaging continued
to moderate, with the division benefiting from the significant
improvements in service and quality which were progressively
established over the course of the prior year. A modest increase in
Specialist Components was boosted by the Industrial Supply,
Extrusion and Pipe Protection Technologies ("PPT") businesses,
although the rate of improvement in PPT has significantly reduced
when compared to Q1 2017.
Outlook
The Components business is expected to continue to generate
strong, broad-based growth, with both the Filters and Specialist
Components divisions maintaining a broadly stable result. In
Packaging, improving year-on-year trends continue to be
anticipated, having increasingly stabilised the business and
addressed certain one-time factors in 2017.
Accordingly, and as previously communicated in Essentra's FY
2017 results announcement on 2 March 2018, the Board confirms its
expectation of a return to like-for-like revenue growth and margin
expansion in Full Year 2018 as Essentra continues to drive its
stability agenda.
Enquiries
Essentra plc Ogilvy PR London
Joanna Speed, Investor Sarah Edwards
Relations Director Tel: +44 (0)7506 409668
Tel: +44 (0)1908 359100 E-mail: sarah.edwards@ogilvy.com
Notes to Editors
About Essentra plc
Essentra plc is a FTSE 250 company and a leading global provider
of essential components and solutions. Organised into four
divisions from the start of 2018 - reflecting the Company's
strategic review - Essentra focuses on the light manufacture and
distribution of high volume, enabling components which serve
customers in a wide variety of end-markets and geographies.
Essentra Components
Essentra Components is a global market leading manufacturer and
distributor of plastic injection moulded, vinyl dip moulded and
metal items. Operating in 27 countries worldwide, nine
manufacturing facilities and 24 logistics centres serve more than
90,000 customers with a rapid supply of low cost but essential
products for a variety of applications in industries such as
equipment manufacturing, automotive, fabrication, electronics and
construction.
Essentra Packaging
Essentra Packaging is one of only two multi-continental
suppliers of a full secondary packaging range to the health and
personal care sectors, with 25 facilities across four geographic
regions. The division's innovative products include cartons,
leaflets, self-adhesive labels and printed foils used in blister
packs, which help customers to meet the rapidly-changing
requirements of these end-markets and can also be combined with
Essentra's authentication solutions to help the fight against
counterfeiting.
Essentra Filters
Essentra Filters is the only global independent cigarette filter
supplier. The nine worldwide locations, including a dedicated
Technology Centre supported by three regional development
facilities, provide a flexible infrastructure strategically
positioned to serve the tobacco sector. The business supplies a
wide range of value-adding high quality innovative filters,
packaging solutions to the roll your own segment and analytical
laboratory services for ingredient measurement to the industry:
Essentra's offering also includes e-cigarette and Heat Not Burn
solutions to the rapidly evolving market for Next Generation
Products.
Essentra Specialist Components
Essentra Specialist Components comprises the Company's six
smaller businesses. These activities largely have strong positions
in the markets in which they operate, although they have little
overlap with each other or with Essentra's larger three global
divisions.
The Extrusion business is a leading custom profile extruder
located in The Netherlands which offers a complete design and
production service. One of the first companies to extrude plastics,
Essentra is now one of Europe's most advanced suppliers of
co-extrusion and tri-extrusion to all branches of industry.
The Pipe Protection Technologies business specialises in the
manufacture of high performance innovative products from commodity
resins to engineering-grade thermoplastics and polymer alloys,
largely for use in the oil and gas industry. Locations in four
countries, combined with a wide distributor network, serve
customers around the world.
The Speciality Tapes business has expertise in coating multiple
adhesive systems in numerous technologies, with close to 3,000 tape
products available for same-day shipping and predominantly for
point of purchase and white goods applications.
The Tear Tapes business is globally recognised as the leading
manufacturer and supplier of pressure-sensitive tear tapes, which
are largely used in the tobacco, food and drink and specialist
packaging sectors.
The Industrial Supply business provides a wide range of branded
hardware supplies to a broad base of industrial customers, largely
located in the US Mid-West.
The Security business is a leading European provider of ID card
printers, systems and accessories to direct and trade
customers.
Headquartered in the United Kingdom, Essentra's global network
extends to 33 countries and includes c. 8,000 employees, 49
principal manufacturing facilities, 66 sales & distribution
operations and 4 research & development centres. For further
information, please visit www.essentraplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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