Essentra on track to beat targets after strong Q3

13th Oct 2014 07:32

Plastic, fibre, foam and packaging products group Essentra said it is on track to exceed targets after maintaining strong organic growth in the third quarter, as its Vision 2015 plan draws to a conclusion.Group revenues increased by 8% in the three months to 30 September, with like-for-like (LFL) sales up 7%.Strong growth at its Component & Protection Solutions, Packaging & Securing Solutions and Filter Products divisions helped offset falling revenues at Porous Technologies.Year-to-date revenue growth is now 16%, with LFL sales up 8%.Essentra's Vision 2015 strategy is targeting mid single-digit LFL revenue growth and double-digit adjusted earnings per share growth at constant exchange rates.Chief executive Colin Day said that the group's strong third quarter "underscores that we remain on track to exceed our objectives [...] not only in 2014, but also over the three-year period since the strategy was implemented".He said: "Combined with continued good progress with the integration of recent acquisitions, as well as the successful transition to our new organisational structure, the company is therefore also well-positioned for the next phase of its development."