Essentra profit falls as unit integration woes continue
28 July 2017
Essentra Plc, a supplier of speciality plastic and packaging products, said its profit fell 29 percent in the first half as sales at its health and personal care packaging unit continued to slow due to integration issues.
The company said pretax profit for the six months ended June 30 fell to 37 million pounds ($48.4 million) from 53 million pounds a year earlier.
Revenue rose 5.6 percent to 522.6 million pounds, helped by strength at its components business. On a like-for-like basis, revenue slipped 3.9 percent.