Essentra (ESNT)

Sector:

Support

Index:

FTSE 250

411.60p
   
  • Change Today:
      2.00p
  • 52 Week High: 442.00
  • 52 Week Low: 325.40
  • Currency: UK Pounds
  • Shares Issued: 263.18m
  • Volume: 96,307
  • Market Cap: £1,083.24m
  • Beta: 1.09

Essentra beats on profits but lowers 2017 guidance

By Alexander Bueso

Date: Friday 17 Feb 2017

LONDON (ShareCast) - (ShareCast News) - Essentra posted better-than-expected full-2016 fiscal year earnings while maintaining its dividend payout, but guided towards lower sales and profits in 2017.
During the reporting period, the supplier of plastic and fibre products made three profit warnings, driven by tough conditions in its Health & Personal Care Packaging unit and short-term issues at its Filtre Products arm.

Commenting on the results, Essentra chief Paul Forman said he believed in the fundamental strengths of all of Essentra´s businesses.

Based on his initial assessment, Forman, who took over at the helm of the company in January, added that the issues which affected the fiscal year 2016 results were mainly "self-inflicted" and "therefore capable of reversal".

Like-for-like revenues dropped 9% to 999m pounds on a constant foreign exchange rate basis.

Also at constant foreign exchange rates, total adjusted operating profits declined 29% to 132m pounds, with earnings per share coming in at 36.3p (consensus: 35.6p) and down by 31% versus the year-ago period.

To take note of, the Milton Keynes-based firm booked an impairment of 124m pounds in the carrying value of its Health&Personal Care Packaging unit.

Net debt inched higher from 374.0m pounds to 379.0m pounds, although management said cash conversion improved during in the backhalf of the year.

The disposal of Porous Technologies was on track to complete in the first quarter of 2017, which analysts said would help the company to maintain its payout.

The annual dividend was steady at 20.7p

A full strategy review was still on-track for July, together with the company´s interims.

In terms of outlook, Essentra said it anticipated lower like-for-like fiscal year-2017 revenues and adjusted operating profits.

"Component Solutions and Filtration Products enter 2017 on amore stable footing, the Health & Personal Care Packaging business is receiving specific short-term focus and remedial action, in light of the continued significant decline in revenue and operating profit during the last months of 2016 and at the start of 2017 - with a deteriorating exit rate which needs to be stabilised. We therefore currently anticipate a reduction in Group like-for-like revenue and adjusted operating profit in FY 2017."

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Essentra Market Data

Currency UK Pounds
Share Price 411.60p
Change Today 2.00p
% Change 0.49 %
52 Week High 442.00
52 Week Low 325.40
Volume 96,307
Shares Issued 263.18m
Market Cap £1,083.24m
Beta 1.09

Essentra Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
62.45% below the market average62.45% below the market average62.45% below the market average62.45% below the market average62.45% below the market average
50.41% below the sector average50.41% below the sector average50.41% below the sector average50.41% below the sector average50.41% below the sector average
Price Trend
1.51% below the market average1.51% below the market average1.51% below the market average1.51% below the market average1.51% below the market average
12.70% above the sector average12.70% above the sector average12.70% above the sector average12.70% above the sector average12.70% above the sector average
Income
56.04% above the market average56.04% above the market average56.04% above the market average56.04% above the market average56.04% above the market average
53.49% above the sector average53.49% above the sector average53.49% above the sector average53.49% above the sector average53.49% above the sector average
Growth
67.84% below the market average67.84% below the market average67.84% below the market average67.84% below the market average67.84% below the market average
76.07% below the sector average76.07% below the sector average76.07% below the sector average76.07% below the sector average76.07% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Essentra Dividends

  Latest Previous
  Interim Final
Ex-Div 26-Sep-19 25-Apr-19
Paid 30-Oct-19 03-Jun-19
Amount 6.30p 14.40p

Trades for 13-Nov-2019

Time Volume / Share Price
16:35 38,122 @ 411.60p
16:29 169 @ 411.80p
16:29 480 @ 411.80p
16:29 200 @ 411.20p
16:29 4 @ 412.00p

Essentra Key Personnel

Chair Paul J Lester
CFO Lily Liu

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