16 June 2010
Filtrona plc issued the following update on trading in respect of the period from 1 January 2010 to 5 June 2010.
Filtrona plc (“Filtrona” or the “Company”), the leading international supplier of speciality plastic and fibre products, today issues the following update on trading in respect of the period from 1 January 2010 to 5 June 2010.
All statistics and qualitative statements made below relate to continuing operations and therefore exclude the North American Plastic Profile & Sheet business, the disposal of which completed on 27 March 2009.
In its IMS published on 22 April 2010, Filtrona stated that the Company’s overall performance during the first quarter1 of 2010 had been ahead of the Board’s expectations and trading for the 9 week period to 5 June 2010 has also been stronger than previously expected. Since the first quarter1, revenue growth within the higher margin divisions of Protection & Finishing Products and Porous Technologies has accelerated, albeit against weaker prior year comparables, and the Coated & Security Products division has also delivered encouraging revenue growth. The Filter Products division has continued to trade in line with first quarter1 trends.
As a result of cumulative trading from 1 January 2010 to 5 June 2010, it is now anticipated that the Company’s performance for the half year ending 30 June 2010 will be materially ahead of the Board’s previous expectations.
An outlook statement for the full year will be issued on 26 August 2010, with the results for the half year ending 30 June 2010.
1 Period from 1 January 2010 to 3 April 2010.