January 23, 2017 / 7:17 AM / 3 years ago

BRIEF-Essentra sees lower FY adjusted oper profit

Jan 23 (Reuters) - Essentra Plc :

* Post-Close trading update

* Trading in both component solutions and filtration products strategic business units (“sbus”) has been broadly consistent with company’s update of 21 November 2016.

* Performance of health & personal care packaging sbu has been more challenging than previously anticipated

* Essentra - as a result of continuing operational issues, there has been a further significant decline in both revenue and profitability during last two months of year

* Nor is there currently an expectation of a near-term improvement as company moves into 2017

* Expects adjusted operating profit to be at, or modestly below, bottom end of company’s previously communicated guidance of £137 - 142m.

* Paul forman has recently commenced a strategic review of company, and an update will be provided at time of essentra’s h1 2017 results

* Proceeds from disposal of porous technologies business will be used to repay existing debt facilities. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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