Essentra sees FY in line after strong Q3
By Frank Prenesti
Date: Friday 21 Oct 2022
(Sharecast News) - Components maker Essentra said it expected annual results to be in line with expectations after a 11% rise in third-quarter like-for-like sales.
The company on Friday said it had mitigated inflationary pressure through pricing, driving revenue growth and protecting profitability.
"The underlying business operations remain robust amid toughening market headwinds in Q3 2022 and management remain confident in the strength and resilience of the business model," Essentra said.
"New price increases have been implemented in the quarter, with further benefit expected in Q4 2022 as the business continues to proactively monitor inflation."
"Whilst slower economic growth is expected in Q4, FY 2022 adjusted operating profit remains in line with the board's expectations."
Reporting by Frank Prenesti for Sharecast.com
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