Plus   Neg

Essentra April, Q1 Like-for-like Revenue Down - Quick Facts

Essentra plc (ESNT.L) reported that its group like-for-like revenue for the month of April decreased 17%, while it was down 7% in the first-quarter.

The groupwide performance was not materially impacted by COVID-19 in the first-quarter, but disruption to trading felt in April, the company said in a statement.

Total Components like-for-like revenue for the quarter was 5% down on the prior year period. Packaging like-for-like revenue was down 5% in the quarter.

The company said it is still too early to call out the full extent of the resulting impact on the full year financial performance - hence any guidance remains absent.

According to the company, the current expectation for May is at least in line with the April performance. However, the company also recognises that there is a risk of a second wave to the pandemic, which could adversely impact trading beyond the second-quarter.

The company said it continues to pursue the strategic initiatives that will drive its medium to long term growth, albeit at a revised pace.

Lorraine Trainer is stepping down as a Non-Executive Director and Chairman of the Remuneration Committee after today's 2020 Annual General Meeting, the company said.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hyundai Motor has launched a new IONIQ brand dedicated to battery electric vehicles, as the automaker is accelerating its efforts to gain a share in the fast-growing global EV market. Under the IONIQ brand, Hyundai plans to introduce three new dedicated electric vehicle models over the next four years. Hyundai is South Korea's largest automaker. Amazon.com, Inc. is in talks with mall operator Simon Property Group, Inc. to use the abandoned anchor departmental stores of JC Penny and Sears at their malls as fulfillment centers, reports said. This is expected to help the e-commerce giant in boosting their last mile delivery, which is the last leg of the delivery process. The U.S. Food and Drug Administration announced the approval of Trevena Inc.'s Olinvyk (oliceridine), a new opioid for intravenous use in hospitals or other controlled clinical settings. Olinvyk is an opioid agonist to manage moderate to severe acute pain in adults, where the pain is severe enough to require an intravenous opioid and for whom alternative treatments are inadequate.
Follow RTT