Trading Update

RNS Number : 5195F

Filtrona plc

14 January 2010

 



14 January 2010

Filtrona plc

Trading Update

Filtrona plc ('Filtrona' or the 'Company'), the international, market leading speciality plastic and fibre products supplier, today issues a trading update ahead of its results for the year ended 31 December 2009, which will be announced on 25 February 2010.

All statistics and qualitative statements made below relate to continuing operations and therefore exclude the North American Plastic Profile and Sheet business, the disposal of which completed on 27 March 2009.

Company Financial Performance

During the period since the interim management statement of 23 October 2009, the Company has traded in line with the Board's expectations. 

On a Group basis, provisional 2009 revenue was up 2.8% versus the prior year and down 5.8% at constant exchange rates. 

Protection and Finishing Products

Provisional 2009 revenue was down 16.8% compared to the prior year and down 25.3% at constant exchange rates.

Porous Technologies

Provisional 2009 revenue was up 32.8% compared to the prior year and up 15.0% at constant exchange rates (up 5.1% at constant exchange rates and adjusting for the impact of Lendell).  

Coated and Security Products

Provisional 2009 revenue was up 1.4% compared to the prior year and down 4.5% at constant exchange rates.

Filter Products

Provisional 2009 revenue was up 8.2% compared to the prior year and up 0.4% at constant exchange rates.

Net Debt

At the year end, net debt was £107m, reflecting the strong operating cash flow generated throughout the year and the proceeds from the disposal of the North American Plastic Profile and Sheet business.

Commenting, Filtrona's Chief Executive, Mark Harper said,

"Given the challenging trading environment throughout last year, we are pleased with the Group's performance in 2009. As we enter 2010, Filtrona remains well positioned to deliver further growth as demand in its markets recovers."

Enquiries:

Filtrona plc Mark Harper, Chief Executive Steve Crummett, Group Finance Director Tel: [phone]

Financial Dynamics Richard Mountain  Sophie Kernon Tel: [phone]

Note to Editors:

Notes to Editors

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

Protection and Finishing Products

A global market leading provider of product protection and finishing solutions, manufacturing and supplying plastic injection moulded, dip moulded vinyl and adhesive-coated foam products. 43 operating units in 14 countries serve a broad industrial base of 77,000 live customers with a rapid supply of primarily plastic products for protection and finishing applications in industries such as hydraulics and pneumatics, oil and gas, electrical controls and tubular metal products.

Porous Technologies

With locations in the US, Germany and China, the leading manufacturer of custom bonded fibre and hydrophilic foam fluid and vapour handling components delivering high value and precision performance to many of the most well-known consumer, industrial and medical brand owners in the world. The components are used in a wide range of product applications including writing instruments, inkjet printer cartridges, medical diagnostic devices and air fresheners.

Coated and Security Products

The global market leading producer of high quality self-adhesive tear tape and a growing supplier of 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. Also includes plastic profile extrusion activities, based in The Netherlands.

Filter Products

This division is the only global independent cigarette filter supplier. The 12 worldwide locations, including a UK-based research facility, provide a flexible infrastructure strategically positioned to serve the cigarette 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.

 

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