RNS Number : 6308X
Filtrona plc
27 June 2008
Filtrona plc
Trading Update on Progress in 2008
Filtrona plc ('Filtrona'), the international market leading speciality plastic and fibre
products supplier, today issues a pre-close
trading statement ahead of its interim results for the six months ending 30 June 2008, which
will be announced on 28 August 2008.
Filtrona has continued to deliver results in line with those outlined within the Interim
Management Statement released on 24 April 2008
and overall trading conditions remain unchanged.
Plastic Technologies continues to perform ahead of the prior year whilst, as expected,
Fibre Technologies' performance remains below the
prior year.
Plastic Technologies
The Protection and Finishing Products division has continued to make good progress with
particularly encouraging performance within the
European operations and at Duraco in the US.
The Coated and Security Products division has maintained its good performance and the
second half of the year will benefit from
increased sales of the Payne Security authentication system.
The Plastic Profile and Sheet division is trading below the prior year primarily as a
result of lower US demand.
Fibre Technologies
The Cigarette Filters division has continued to perform well in Asia and the new special
filter business secured with a multinational
customer will commence production in the second half. As anticipated, overall performance in
the division remains below the prior year and
the operating results will include a £1m charge arising from restructuring at the UK
facility.
The Bonded Fibre Components division has been impacted by some customer destocking and a
delay to the start of the back-to-school
writing instrument reservoir selling season in the US. The second half will benefit from new
product launches in the inkjet printer and
medical product markets.
Outlook
The Board remains confident that the Filtrona Group will continue to deliver satisfactory
performance and meet the Company's
expectations for the full year.
Enquiries:
Filtrona plc
Finsbury
Mark Harper, Chief Executive James Leviton
Steve Crummett, Group Finance Director Clare Strange
Tel: 01908 350 100 Tel: 020
7251 3801
This information is provided by RNS
The company news service from the London Stock Exchange
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