Trading Update

RNS Number : 3731Z

Filtrona plc

13 January 2011

 



13 January 2011

Filtrona plc

Trading Update

Filtrona plc ("Filtrona" or the "Company"), the leading international supplier of speciality plastic and fibre products, today issues a trading update ahead of its results for the year ended 31 December 2010, which will be announced on 24 February 2011.

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.

Company Financial Performance

During the period since the Interim Management Statement of 20 October 2010, the Company has traded in line with the Board's expectations, with provisional 2010 revenue up 10% versus the prior year and up 8% at constant exchange rates.   Net debt at the year-end was c. £91m.

Divisional Performance

In Protection & Finishing Products, provisional 2010 revenue was up 35% compared to prior year (up 35% at constant exchange rates); in Porous Technologies, it was up 13% compared to prior year (up 14% at constant exchange rates); in Coated & Security Products, it was up 5% compared to prior year (up 5% at constant exchange rates); and in Filter Products, it was down 1% compared to prior year (down 4% at constant exchange rates).

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

"Filtrona's performance has been consistently strong throughout 2010 and, as we enter 2011, momentum remains positive with the Company well positioned to continue to deliver growth."

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.  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 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.  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 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

This division is the only global independent cigarette filter supplier.  The 11 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.

 

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