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Trading statements

Essentra at or below bottom end of guidance

23 January 2017 07:29

Essentra expects adjusted operating profit to be at, or modestly below, the bottom end of the company's previous guidance of £137m=£142m.

It said trading in both the Component Solutions and Filtration Products Strategic Business Units has been broadly consistent with the company's update of 21 November.

But it said: "The performance of the Health & Personal Care Packaging SBU has been more challenging than previously anticipated and, as a result of continuing operational issues, there has been a further significant decline in both revenue and profitability during the last two months of the year - nor is there currently an expectation of a near-term improvement as the Company moves into 2017.

"This SBU will be receiving specific short-term focus and remedial attention from Paul Forman, chief executive, and other senior management."

Forman has recently commenced a strategic review of the company, and an update will be provided at the time of Essentra's H1 results on 28 July.

Story provided by StockMarketWire.com

Related Company: ESNT

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