Essentra FY adjusted operating profits seen in line with guidance
By Iain Gilbert
Date: Tuesday 21 Jan 2025
(Sharecast News) - Essential components manufacturer Essentra said on Tuesday that it expects FY adjusted operating profits to be in line with previous guidance and current analyst expectations of £39.8m to £40.3m.
Essentra said FY group revenue was expected to grow by 0.3% on a constant currency basis, with the acquisition of BMP increasing revenue by approximately 3.0% year-on-year, offset by a roughly 2.7% reduction in like-for-like revenue, reflecting mixed end-market conditions.
FX headwinds also impacted group revenue by around 5%, with reported group revenue expected to be 4.4% below the prior year.
The FTSE 250-listed firm added that its financial position was "robust" and said operational cashflow conversion continued to be strong.
Chief executive Scott Fawcett said: "Essentra expects to deliver FY24 adjusted operating profit in line with previous guidance. While end-market conditions throughout the year have been mixed, Essentra's global manufacturing and distribution footprint, and operational flexibility have supported the delivery of regional gross margin stability."
As of 1000 GMT, Essentra shares were down 1.63% at 120.40p.
Reporting by Iain Gilbert at Sharecast.com
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