Essentra to deliver profitable growth in 2013

14th Oct 2013 07:26

Plastic packaging company Essentra said it is on track to deliver profit growth this year on the back of a strong third quarter. In a trading update for the three months from July 1st, the group reported a 23% rise in revenue at constant exchange boosted by new business wins in the Packing and Securing Solutions division.The company's Component and Protection Solutions arm was supported by improved result in Components Europe and a more robust comparative performance for the Pipe Protection Technologies business. Growth in Porous Technologies was led by Writing Instruments and Healthcare while Filter Products was bolstered by volume growth and demand for innovative special filters."With like-for-like growth of 9% and total revenue up 23% at constant exchange, Essentra both maintained its positive organic growth trend and continued to make good progress with the integration of recent acquisitions, including Essentra Healthcare Packaging which is in line with expectations," said Chief Executive Colin Day."As a result of this continued strong momentum, the Company is on track to deliver further balanced, profitable growth in 2013 and to continue to make progress towards its Vision 2015 objectives of at least mid single-digit like-for-like revenue growth and double-digit adjusted earnings per share growth at constant exchange."RD