Essentra PLC - Milton Keynes, England-based plastics foam products company - Says it made a "strong" start to 2022. Reports with like-for-like revenue growth of 16% in the first quarter of 2022 compared to the same period a year before. Records like-for-like revenue growth of 16% in its Components unit, as it continues to build on strong momentum from 2021. Adds that its Filters and Packaging arms grew 16% and 11% in the period on the same basis, respectively. Continues to "manage" supply chain and inflationary pressures. Expects to deliver full-year adjusted operating profit in line with its own expectations.
Essentra says the strategic reviews of Filters and Packaging divisions are progressing "in line with expectations." Last year, Essentra set out its plan to become a pure-play Components business, with its Filters and Packaging divisions likely to be sold off.
Current stock price: 301.00 pence, down 2.3% on Thursday
12-month change: down 2.9%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Essentra (ESNT)