Filtrona plc
26 April 2006
Filtrona plc
AGM Trading Statement
Filtrona plc advises that it is to hold its Annual General Meeting later today.
At the meeting, Jeff Harris, Chairman, will make the following statement to
shareholders.
'In the year to date, the group has delivered a good financial performance in
line with the Board's expectations.
Underlying sales growth in both Plastic and Fibre Technologies has been in
excess of historical growth rates, with additional benefit derived from foreign
currency exchange movements.
Plastic Technologies has continued to deliver strong growth and the business has
performed well across all markets and geographies.
FractureCode continues on its successful development path and progress with our
launch customer remains encouraging. The product will be launched to the general
market in May at the Intergraf security printers' conference.
Sustained investment in new products, marketing programmes and productivity
improvements continue to drive strong growth in this segment.
Fibre Technologies has seen sales momentum increase from that delivered in the
second half of 2005 with growth in special filters and bonded non-woven fibres
more than offsetting the anticipated decline in the simpler mono acetate
filters. However, as expected, profits continue to be held back by the costs
required to generate world class levels of quality and productivity at our
Monterrey, Mexico facility and to integrate the technology transferred from the
Swiss Filters facility into our Jarrow facility in the UK.
Filtrona's continued investment both in developing its niche market positions
through service, supply chain and new product development and in productivity
improvement programmes gives the Board confidence that Filtrona's financial
performance will continue to develop satisfactorily and in accordance with the
Board's expectations.'
Editor's Note:
Plastic Technologies produces, sources and distributes protection and finishing
products, self-adhesive tear tape and certain security products as well as
proprietary and customised plastic extrusions and packaging items for consumer
products.
Fibre Technologies focuses on the production and supply of special filters for
cigarettes and bonded fibre products such as reservoirs and wicks for writing
instruments and printers, household products and medical diagnostic devices.
Enquiries:
Filtrona plc Tel: 01908 359 100
Mark Harper, Chief Executive
Steve Dryden, Finance Director
Finsbury Tel: 020 7251 3801
Morgan Bone
Gordon Simpson
This information is provided by RNS
The company news service from the London Stock Exchange
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