UK: Essentra Profit Rises on Growth in Cigarette Filter Division

Source from:  Reuters  08/01/2013

British plastic and fibre products maker Essentra Plc's first-half profit rose 25 percent, boosted by a strong growth in its cigarette filter division.

The FTSE-250 company, which changed its name from Filtrona Plc last month, said adjusted pretax profit rose to 60.3 million pounds ($92.01 million) from 48.1 million pounds, on a constant currency basis.

Essentra supplies plastic products to the hydraulics industry and filters to tobacco companies for use in cigarettes.

Revenue rose 18.4 percent to 384.6 million pounds. Revenue at its filter products division grew 19.8 percent to 129.5 million pounds.

The company raised its interim dividend by 23 percent to 4.8 pence per share from a year earlier. Enditem