* Company says looking at four potential acquisitions
* Revenue rises 20 percent to 798 mln stg
* Adjusted pretax profit up 28 percent to 119.8 mln stg
By Tasim Zahid
Feb 20 Packaging products manufacturer Essentra
Plc said it was actively looking at four more
acquisitions as it expands into emerging markets.
"They cover the spectrum (in terms of size). We are looking
at one small, two mid and one large acquisition," Chief
Executive Colin Day told Reuters.
The FTSE-250 company has been growing its profits by making
acquisitions in the last few years. Since Day took over as CEO
in 2011, Essentra has spent more than 300 million pounds
(about$500 million) on nine acquisitions.
The company also reported on Thursday a 28 percent jump in
full-year adjusted profit, helped by a jump in sales of its
filters. Acquisitions contributed 11 percent to full-year
"We are continuing to actively seek M&A prospects in the
fast-growing markets Asia-Pacific, Latin America and parts of
Eastern Europe and Russia," Day said in an interview.
Essentra, earlier known as Filtrona, makes products ranging
from cigarette filters and fasteners to cartons and
self-adhesive labels. The company has also started making
non-smoke filters as it looks to tap the fast-growing
Sales at its filters unit rose 16.5 percent to 269.9 million
pounds, accounting for more than a third of total sales. About
61 percent of sales volumes in the unit came from Asia.
Adjusted pretax profit rose 28 percent to 119.8 million
pounds, while revenue rose 20 percent to 798 million pounds.
Shares in the London-listed company, which announced a final
dividend of 10.6 pence per share, were down 5.8 percent at 842
pence at 1430 GMT. The stock had gained about 50 percent in the
past 12 months.
"The results are in line, and there is nothing to drag it
down and it's on a high rating. The markets are down and its
just a bit of profit taking, no more than that," Numis
Securities analyst, Mike Murphy told Reuters.