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Essentra PLC on Tuesday reported a steep decline in half-year profit, but said it remained on track to meet expectations for 2025. The Oxford, England-based manufacturer of plastic and metal hardware components said pretax profit in the six months that ended June 30 was £1.3 million, less than half of £4.0 million the year prior. The decline in revenue was more modest, as it fell 4.6% to £152.4 million from £159.7 million. Revenue for Europe, the Middle East and Africa fell 8.3% on-year to £82.0 million from £89.4 million, while revenue in the Americas decreased 2.5% to £50 million from £51.3 million. Asia-Pacific revenue rose 7.4% to £20.4 million from £19.0 million. Basic earnings per share plummeted to 0.1 pence from 0.9p in 2024, though Essentra recorded adjusted EPS of 3.4p compared with 4.6p on-year. The firm lowered its interim dividend to 0.8p per share from 1.25p the previous year. Essentra left its full-year guidance for adjusted operating profit unchanged, saying that the first half had professed in line with expectations and that new order intake was roughly 3% ahead of 2024. The firm is anticipating improved margins, consistent volumes and ‘modest revenue growth’ in the second half. Essentra said it ‘continues to maintain a balanced approach to cost control’ whilst reviewing footprint, pricing and possible bolt-on acquisitions. ‘The group delivered a first half financial performance in line with board expectations, whilst navigating continued external global challenges and mixed macroeconomic conditions,’ commented Chief Executive Scott Fawcett. ‘We have been particularly encouraged by the resilience and performance in Americas and APAC through the first half of 2025.’ He added that the company ‘remains focused on the elements that are within our control.’ Net debt excluding leases was £68.7 million at June 30, increased slightly from £68.2 million at December 31, for leverage 1.5 times earnings per interest, tax, depreciation and amortisation. Essentra shares were 1.5% higher at 105.72 pence on Tuesday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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