logo
Plus   Neg
Share
Email

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
United Airlines has rolled out an interactive online "Map Search" feature for its customers in collaboration with search giant Google. The new feature is powered by Google Flight Search Enterprise Technology. United is claimed to be the first airline in the U.S. to add this feature. The new feature, available on United.com, allows customers to easily search, compare and purchase flight tickets. GHSW, LLC. is recalling Trader Joe's Southwest Style Sweet Potato Sauté Bowl citing undeclared milk and egg allergens in the dressing, according to the Food and Drug Administration. The recall was initiated after it was discovered that the dressing in the bowl contains milk and egg, but are not declared on the label. California Gov. Gavin Newsom signed an executive order on Wednesday that bans the sale of new gasoline-powered vehicles in the state by 2035. With this, California plans to phase out the sale of all gasoline-powered vehicles and to drastically reduce demand for fossil fuel in its fight against climate change. The order directs the California Air Resources Board to develop a plan.
Follow RTT