Interim Management Statement

RNS Number : 8695E

Filtrona plc

14 April 2011

 



14 April 2011

Filtrona plc

Interim Management Statement

Filtrona plc ("Filtrona" or the "Company"), the leading international supplier of speciality plastic and fibre products, today issues its interim management statement for the period from 1 January 2011.

At its Annual General Meeting to be held at 12 noon today, Jeff Harris, Chairman, will make the following statement:

Company Financial Performance

During the first quarter¹ of 2011, the Company's overall performance was in line with the Board's expectations.

Company revenue was up 8% versus the first quarter of last year ("comparable period"² ) at reported  exchange rates and up 9% at constant exchange rates.

Revenue versus comparable period	% change	% change at CER3
Protection & Finishing Products	21%	23%
Porous Technologies	5%	8%
Coated & Security Products	9%	10%
Filter Products	(4%)	(4%)
Company	8%	9% 4

¹ period from 1 January 2011 to 2 April 2011.

² period from 1 January 2010 to 3 April 2010.

³ at constant exchange rates.

⁴  7% at constant exchange rates and excluding  acquisitions.

Financial Position

There has been no significant change in the financial position of the Company. Net debt was £87m as at 2 April 2011.

Board Appointment

As previously announced, Colin Day was appointed to the Board as Chief Executive on 1 April.  Mark Harper will stand down from the Board at the Annual General Meeting today and will retire from the Company in May.

Outlook

The Company has delivered encouraging revenue growth throughout the first quarter¹, which gives the Board continued confidence in its expectations for 2011.

Enquiries

Filtrona plc Colin Day, Chief Executive Steve Crummett, Group Finance Director Tel: [phone]

Financial Dynamics Richard Mountain Nina Delangle Tel: [phone]

Notes to Editors

Filtrona plc is a leading international supplier of speciality plastic and fibre products. Further information can be found on the website www.filtrona.com.

Protection & Finishing Products

A global market leading provider of product protection and finishing products, manufacturing and distributing plastic injection moulded, dip moulded, adhesive-coated foam and metal products. The division has 41 operating units in 14 countries serving a very broad industrial base of over 85,000 customers with a rapid supply of primarily plastic products for protection and finishing applications in industries such as hydraulics, pneumatics, oil and gas, electrical controls, point of purchase and tubular metal products.

Porous Technologies

The leading global technology developer and manufacturer of custom bonded fibre and hydrophilic foam components.  Its components handle fluid and vapour and deliver high value and precision performance to many of the most well-known healthcare, consumer and industrial brand owners in the world.  These components are used in a wide range of product applications including medical diagnostics and wound care, inkjet printer cartridges, writing instruments and air fresheners.

Coated & Security Products

The global market leading producer of high quality self-adhesive tear tape and a growing supplier of labels, products and technologies for brand protection, document authentication, personal identification and track and trace.  Customers in over 100 countries are served from facilities operating in six countries. The division also includes plastic profile extrusion activities in The Netherlands.

Filter Products

The division is the only global independent cigarette filter supplier.  The 10 worldwide locations, including a UK-based research facility and three regional development centres provide a flexible infrastructure strategically positioned to serve the tobacco industry.  The division supplies a wide range of value adding high quality innovative filters from monoacetate to multi-segment speciality filters with sophisticated adsorbent materials.

 

END

 

 

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