Essentra Q3 Group Trading In Line With Expectations

Essentra Plc. (FLRAF) , a provider of essential components and solutions on Tuesday said the group trading for the third quarter is in line with expectations. The Company is also expecting to deliver Fiscal 2021 adjusted operating profit in the range of analysts' forecasts.

Further The U.K-based company operating as three business segments viz Components, Packaging and Filters also announced its intentions to become a pure play components business. And it decided to review strategic options for its Filters business and expects to conclude on the same by the second quarter of 2022.

The company said it anticipates third quarter to record robust performance, clocking a revenue growth of 5.1 percent.

During the third quarter, the Components division witnessed a like-for-like day adjusted revenue growth of 28.5 percent during the period. Packaging division's revenue on a like-for-like basis however declined 6.1 percent due to delays in the recovery of elective surgeries and prescription levels. The Filters division recorded revenue growth of 2.8 percent driven mainly by higher volumes from outsourcing contracts.

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