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REFILE-Essentra adjusted profit rises 28 pct on strong Asia sales
February 20, 2014 / 7:51 AM / 4 years ago

REFILE-Essentra adjusted profit rises 28 pct on strong Asia sales

Feb 20 (Reuters) - Packaging products manufacturer Essentra Plc said full-year adjusted pretax profit rose 28 percent as its cigarette filters business posted strong growth in Asia.

Adjusted pretax profit rose to 119.8 million pounds ($200.23 million) from 93.8 million pounds a year earlier. Revenue rose 20 percent to 798 million pounds.

The FTSE-250 company said it was well-positioned to deliver further balanced growth in 2014 and was on track to meet its 2015 revenue expectations.

Essentra, which was earlier known as Filtrona, said revenue at the company’s filter products unit increased 16.5 percent to 269.9 million pounds with sales in Asia contributing 61 percent of volume.

The company said it would pay a final dividend of 10.6 pence per share.

Essentra shares, which have risen about 50 percent in the last 12 months, closed at 894 pence on Wednesday on the London Stock Exchange.

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