January 23, 2017 / 7:52 AM / 3 years ago

Essentra sees FY operating profit near lower end of forecast

Jan 23 (Reuters) - Essentra Plc, a supplier of speciality plastic and packaging components, warned that full-year adjusted operating profit would miss or meet only the lower end of its forecast, citing challenging market conditions in health and personal care packaging unit.

The company said it expects adjusted operating profit to be at, or modestly below, the lower end of its guidance range of 137 million-142 million pounds ($169.3 million-$177 million) for the year ended Dec. 31.

The company had cut its full-year profit guidance in November.

Essentra, whose filter products are used in tobacco, health and personal care and consumer goods, also said on Monday that Chief Executive Paul Forman has commenced a strategic review of the company. ($1 = 0.8024 pounds) (Reporting by Rahul B in Bengaluru; Editing by Amrutha Gayathri)

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