Essentra Regulatory News (ESNT)

26 Jun 2006 07:01

Filtrona plc26 June 2006 PRE-CLOSE TRADING STATEMENT Filtrona today issues a pre-close trading statement ahead of its interim resultsfor the half year ending June 30th 2006. Underlying sales growth in both Plastic and Fibre Technologies has continued toexceed historical growth rates supplemented by some additional benefit derivedfrom foreign currency exchange movements. Plastic Technologies has continued to deliver strong sales and profit growthwith an excellent performance from the North American businesses. TheFractureCode launch at the Intergraf Security Printers' conference was wellreceived. Sustained investment in marketing programmes, new products andproductivity improvements continues to drive growth in this business segment. Fibre Technologies has also continued to deliver strong sales growth withincreases in special filters and a robust recovery in the household productselement of the bonded non-woven fibres business more than offsetting theanticipated decline in mono acetate filters. Profits are expected to show asmall reduction due to two ongoing factors referred to in earlier statements,namely higher than anticipated costs required to generate appropriate levels ofquality and productivity at the Monterrey, Mexico filters facility and the costsof integrating the technology transferred after the closure of the Swiss filtersfacility into the Jarrow facility in the UK. Overall, in the first half of the year Filtrona made good underlying progressthough headline performance was constrained due to 2005 having benefitted fromlower central services costs in the pre-demerger period. Despite the weaker dollar and higher interest rates, Filtrona has continued toinvest both in developing its niche market positions through service, supplychain and new product development and in productivity improvement programmes,particularly in the filters business. This gives the Board confidence thatFiltrona's financial performance will continue to develop satisfactorily. Editor's Note: Plastic Technologies produces, sources and distributes protection and finishingproducts, self-adhesive tear tape and certain security products as well asproprietary and customised plastic extrusions and packaging items for consumerproducts. Fibre Technologies focuses on the production and supply of special filters forcigarettes and bonded fibre products such as reservoirs and wicks for writinginstruments and printers, household products and medical diagnostic devices. Enquiries: Filtrona plc Tel: 01908 359 100Mark Harper, Chief ExecutiveSteve Dryden, Finance Director Finsbury Tel: 020 7251 3801Morgan BoneGordon Simpson This information is provided by RNS The company news service from the London Stock Exchange