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Essentra Expects Stable FY24 Financial Performance Amid Mixed Market Conditions
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Essentra Expects Stable FY24 Financial Performance Amid Mixed Market Conditions

Story Highlights
  • Essentra plc anticipates FY24 profits to meet guidance despite varied market conditions.
  • Revenue growth is driven by acquisitions, with a focus on cost control and strategic investments.
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Invest with Confidence:

An announcement from Essentra ( (GB:ESNT) ) is now available.

Essentra plc announced its FY24 trading update, expecting adjusted operating profit to align with previous guidance and analyst expectations, despite a mixed market environment. The company’s revenue is projected to grow by 0.3% on a constant currency basis, aided by the acquisition of BMP TAPPI. However, EMEA markets showed softness, while the Americas stabilized, and APAC saw steady growth. Essentra maintains stable gross margins and a robust financial position, with a focus on cost control and strategic investments to drive efficiency and support growth, despite challenging end-market conditions.

More about Essentra

Essentra plc is a FTSE 250 company and a leading global provider of essential components and solutions, specializing in the manufacture and distribution of plastic injection moulded, vinyl dip moulded, and metal items. Headquartered in the United Kingdom, Essentra operates in 28 countries with around 3,000 employees, 14 manufacturing facilities, 24 distribution centres, and 33 sales & service centres, serving approximately 69,000 customers across industries such as equipment manufacturing, automotive, fabrication, electronics, medical, and renewable energy.

YTD Price Performance: -7.22%

Average Trading Volume: 513,239

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £353.7M

For detailed information about ESNT stock, go to TipRanks’ Stock Analysis page.

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