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Essentra PLC - Oxford, England-based manufacturer and distributor of plastic injection moulded, vinyl dip moulded and metal components - Group revenue falls 2.3% at constant currency in the group’s third quarter that ended September 28, whilst like-for-like revenue falls 5.8%. Like-for-like revenue was offset by a 3.5% positive revenue contribution from the BMP SRL acquisition completed in October 2023. Revenue fell due to ‘softening trading conditions’ in Europe, the Middle East & Africa, whilst the US saw ‘slower than originally anticipated levels of recovery’. The Asia-Pacific region delivered ‘modest levels of growth, driven by a number of commercial business wins in faster-growing end-markets from our China export business to the rest of Asia and the Middle East’. The company says guidance for adjusted operating profit remains in line with market expectations, citing a company-compiled consensus of between £40.0 million and £41.7 million. Trading in October supports Essentra’s internal forecasts, which it does not specify. Current stock price: 152.20 pence, up 0.8% in London on Thursday afternoon 12-month change: up 3.1% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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