Essential components and solutions maker Essentra Plc (FLRAF), on Thursday, issued a Q3 trading update and reported that its Q3 group revenue declined by 2.3% at constant currency, compared to the prior year period on a working day adjusted basis.
Like-for-like or LFL revenue decreased by 5.8%, offset by a positive contribution to revenue of 3.5% from the acquisition of BMP s.r.l, which was completed in October 2023.
The company stated that its FY24 leverage guidance remains unchanged and is expected to be within the target range of 0.5x - 1.5x, providing a solid foundation from which the Group can continue to execute operational and strategic value-enhancing growth initiatives.
The Board expects FY24 adjusted operating profit to be in line with current market expectations. Trading in October supports the Group's revised internal forecasts, and Management remains focused on delivering operational efficiencies in the near-term, whilst selectively investing for growth.
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