Filtrona full-year adjusted profit jumps 26 percent
Feb 21 (Reuters) - British plastic and fibre products supplier Filtrona Plc reported a 26 percent rise in full-year profit, helped by acquisitions in its largest protection and finishing business.
Filtrona also said it acquired Ulinco Components AB, a Sweden-based distributor of plastic protection and finishing products. It did not disclose the deal value but said the transaction would add to its earnings immediately.
Milton Keynes-based Filtrona, which also makes filters, also announced a joint venture with India-based tobacco company BBM Bommidala Group in the United Arab Emirates.
Filtrona's adjusted pretax profit rose to 95.8 million pounds ($146.6 million) in 2012 from 76.2 million pounds a year earlier.
Revenue increased 23 percent to 663.4 million pounds.
Revenue at its protection and finishing business, which supplies plastic products to hydraulics, oil and gas and electrical controls industries, rose 45.8 percent to 237.7 million pounds. Most of this growth came from acquisitions.
The company, a FTSE-250 component, raised its final dividend to 8.6 pence per share from 7.2 pence a year earlier.
Filtrona's shares closed at 533.5 pence on the London Stock Exchange on Wednesday.
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