Essentra maintains its 2017 interim dividend

DividendMax Ltd.

Essentra maintains its 2017 interim dividend

Revenue, adjusted profit and EPS decline reflect continuation of trends communicated in 20 April 2017 Trading Update. 

- A good performance in Component Solutions, offset by ongoing operational challenges in Health & Personal Care Packaging and the pricing impact of raw material pass-through in Filter Products.

o Revenue decrease of 4% on a like-for-like1 basis. 

o Adjusted operating profit down 35% (at constant FX) to £43m.

o Basic adjusted EPS lower by 38% (at constant FX) to 11.2p.

Net debt of £207m (31 December 2016: £379m): operating cash conversion3 of >70% (HY 2016: 59%) reflects greater underlying stability in the business.

Balance sheet strengthened post-completion of Porous Technologies divestment: net debt to EBITDA reduced to 1.6x on a continuing basis (31 December 2016: 2.3x).

Half year dividend unchanged at 6.3p per share.

Companies mentioned