Trading Update

RNS Number : 6760N

Filtrona plc

16 June 2010

 



16 June 2010

Filtrona plc

Trading Update

Filtrona plc ("Filtrona" or the "Company"), the leading international supplier of speciality plastic and fibre products, today issues the following update on trading in respect of the period from 1 January 2010 to 5 June 2010.

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

In its IMS published on 22 April 2010, Filtrona stated that the Company's overall performance during the first quarter¹ of 2010 had been ahead of the Board's expectations and trading for the 9 week period to 5 June 2010 has also been stronger than previously expected.  Since the first quarter¹, revenue growth within the higher margin divisions of Protection & Finishing Products and Porous Technologies has accelerated, albeit against weaker prior year comparables, and the Coated & Security Products division has also delivered encouraging revenue growth.  The Filter Products division has continued to trade in line with first quarter¹ trends. 

As a result of cumulative trading from 1 January 2010 to 5 June 2010, it is now anticipated that the Company's performance for the half year ending 30 June 2010 will be materially ahead of the Board's previous expectations.

An outlook statement for the full year will be issued on 26 August 2010, with the results for the half year ending 30 June 2010.  

¹Period from 1 January 2010 to 3 April 2010.

Enquiries

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

Financial Dynamics Richard Mountain 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 solutions, manufacturing and distributing plastic injection moulded, dip moulded, adhesive-coated foam and metal products.  40 operating units in 14 countries serve a very broad base of 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 sale and tubular metal products.

Porous Technologies

The leading global technology developer and 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 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 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 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 and three regional development centres 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.

 

END

 

 

TSTBLGDLGXBBGGU