Essentra Q3 Revenue Declines By 6.7% On LFL Basis - Quick Facts
(RTTNews) - Essentra plc (ESNT.L) reported a 6.7% decline in the third-quarter revenue on a like-for-like or LFL basis, reflecting a reduction in elective surgeries and prescription levels through lockdown periods.
In the Components division, on a LFL basis Q2 was -20% on the prior year period, whilst Q3 improved to -13.9%, clearly demonstrating the carry through of improving trading trends seen since the 'nadir' in April.
The company noted that the Filters division has maintained "robust underlying demand throughout the pandemic," with revenue growth turning positive in June. The overall division revenue grew by 2.0%, while the core Filters business revenue rose by 3.4%.
"Barring a material disruption from a second wave to the COVID-19 pandemic, and based on recent trading, the Board's expectations for the year ending 31 December 2020 remain unchanged," the company said.
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