Filtrona plc
27 June 2005
Trading Statement
Filtrona has continued to perform to expectations in the first half of 2005.
Plastic Technologies is continuing to benefit from investments made in marketing
programmes, distribution infrastructure and new plant and equipment. Headline
growth has been enhanced by the full effect of the successful integration of the
Skiffy acquisition which was completed in March 2004. Underlying growth remains
robust and some moderation of growth rates in certain markets is being mitigated
by reductions in raw material prices.
Fibre Technologies' performance is broadly in line with the first half of 2004.
Lower filter volumes in Europe offset growth in the Americas and Asia which,
combined with start up costs in Mexico and China and closure costs in
Switzerland, impacted performance. Increased volumes in both Mexico and China,
combined with savings derived from the factory closure in Switzerland, will
deliver benefit during the remainder of 2005.
Filtrona is a leading supplier in the niche markets it serves, and continues to
invest in lowering unit cost, improving service and supply chain efficiency, and
in developing new products. The Board is confident that Filtrona will continue
its positive development.
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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