Essentra said it had signed an agreement to invest about £7.8m for a 49% stake in a new joint venture company in China The JV would produce specialist and next generation filters to manufacture locally in a new facility in Xiamen in China and would incorporate a development and testing centre. Essentra would own a 49% stake in the JV, China Tobacco Essentra (Xiamen) Filters, with China Tobacco Fujian Industrial owning 21%, Shanghai Haiyan Investment Management, China Tobacco Hunan...
>> Read more >>UK stocks edged a tad lower in early trade on Friday as European leaders deliberated over offering the UK a Brexit extension and Boris Johnson pushed for 12 December national elections. At 0829, the benchmark FTSE 100 index was down 4.22 points at 7.324.03. Banking group Barclays gained 2.7% to 170.87p as it reported a fall in third quarter profit that nevertheless beat market expectations. The lender also said that meeting its performance targets for this year and the next had become more...
>> Read more >>Plastic and fibre product supplier Essentra said like-for-like revenue declined in the third quarter of the year, owing to some short-term Brexit impacts and a tougher macroeconomic environment. Like-for-like revenue for the three months through September declined 2.9% , while underlying revenue fell 0.6%. Short-term factors weighed on growth in the company's filters division. But Essentra said it expected performance in the segment, which secured a six-year outsourcing opportunity with a...
>> Read more >>Essentra said half-yearly profits rose 9.6% thanks to higher revenue as the company reported 'significant' progress in streamlining its business. Adjusted operating profit up 9.6% to £48.3m as like-for-like revenue rose 1.3% at constant currency. 'We have also made significant progress in simplifying the Essentra Group, with the sale of Pipe Protection Technologies, Extrusion, Speciality Tapes and Card Solutions in the year to date.,' the company said. 'Further to these disposals, we...
>> Read more >>Jefferies International today upgrades its investment rating on Essentra (LON:ESNT) to buy (from hold). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
>> Read more >>Deutsche Bank today reaffirms its buy investment rating on Essentra (LON:ESNT) and raised its price target to 445p (from 430p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
>> Read more >>Essentra said it had acquired Innovative Components and Componentes Innovadores Limitada for an undisclosed cash consideration. Innovative Components manufacturers and distributes knobs, pins and handles in North America, for a broad range of end-markets, and would be reported under the company's components division, Essentra said. 'The acquisition of Innovative Components builds the division's product offering in the US, provides range extension opportunities in Europe and Asia and adds...
>> Read more >>Essentra signed an agreement to sell its speciality tapes business to OpenGate in a deal worth US$77m. 'With OpenGate having the investment resource to build on the unique capabilities of Speciality Tapes and to further diversify its end-market exposure, the transaction both represents good value for Essentra's shareholders and provides the business with a strong platform for future successful growth,' the company said. The company said it intended to use the proceeds from the sale to...
>> Read more >>Deutsche Bank today reaffirms its buy investment rating on Essentra (LON:ESNT) and raised its price target to 430p (from 420p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
>> Read more >>Essentra said it had sold its extrusion business to Inter Primo in a deal worth €16.2m. The extrusion segment formed part of Essentra's Specialist Components division, and for the year ended 31 December 2018, the segment delivered operating profit of £1.2m. 'The sale of Extrusion not only represents good value for Essentra's shareholders, but also provides the business with a strong platform for future successful growth given Inter Primo's established presence in the extrusion industry....
>> Read more >>Lorraine Trainer, Non Executive Director, bought 210 shares in the company on the 3rd June 2019 at a price of 397.00p. The Director now holds 8,854 shares representing 0.00% of the shares in issue. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Essentra posted modest like-for-like revenue growth for the first four months of the year, as a softer end-market backdrop kept a lid on growth in its component division amid an uncertain macro environment. In the four months to 30 April 2019, trading had been in line with management's expectations, with the company delivering like-for-like revenue growth of about 1%. In packaging, underlying revenue momentum remained strong, with 'good growth in both Europe and the Americas boosted by...
>> Read more >>Numis today reaffirms its buy investment rating on Essentra (LON:ESNT) and raised its price target to 505p (from 485p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
>> Read more >>Paul Forman, Chief Executive Officer, bought 20,000 shares in the company on the 7th May 2019 at a price of 392.80p. The Director now holds 260,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Numis today upgrades its investment rating on Essentra (LON:ESNT) to buy (from hold) and cut its price target to 485p (from 510p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
>> Read more >>Essentra acquired the 49% stake in joint venture Essentra (MEA) Pte from Aberdeen International PZE for £11.6m in cash to take full ownership of its Filters division. Essentra (MEA) Pte, the holding company of Essentra FZE, which was responsible for the company's Filters activities in Dubai. Since it was established in 2013, Essentra FZE had served the markets of the Middle East with an increasingly complex range of special filters, resulting in strong revenue and profit growth, the...
>> Read more >>Essentra on Friday swung to a profit Friday, but revenues were crimped by a 'modest' like-for-like decline in its filters and specialist components divisions. For the 12 months ended December 31, the company reported a pre-tax profit of £36m, compared with a loss of £5m the previous year. Revenues declined 0.2% to £1.025bn. Robust performance in components and a return to growth in packaging in second half, was partially offset by a modest like-for-like decline in filters and specialist...
>> Read more >>Deutsche Bank today reaffirms its buy investment rating on Essentra (LON:ESNT) and cut its price target to 420p (from 460p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
>> Read more >>Peel Hunt today reaffirms its buy investment rating on Essentra (LON:ESNT) and cut its price target to 500p (from 550p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
>> Read more >>Lorraine Trainer, Non Executive Director, has re-invested 139 shares in the company on the 31st October 2018 at a price of 382.30p. The Director now holds 8,644 shares representing 0.00% of the shares in issue. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Paul Forman, Chief Executive Officer, bought 20,000 shares in the company on the 29th October 2018 at a price of 370.50p. The Director now holds 240,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Ralf Wunderlich, Non Executive Director, bought 5,000 shares in the company on the 23rd October 2018 at a price of 340.80p. The Director now holds 136,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Ralf Wunderlich, Non Executive Director, bought 10,000 shares in the company on the 22nd October 2018 at a price of 352.10p. The Director now holds 131,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Essentra said Friday its expectations for the full year remained unchanged after posting third-quarter like-for-like revenue of 1.5% as its packaging division returned growth. Excluding the impact from the closure of Newport cartons, the packaging division posted more than 4% growth during the quarter amid a 'meaningful' improvement in both Europe & Asia and North America, prompting the company to boost its outlook for the division's revenue and margin. The components division...
>> Read more >>Paul Forman, Chief Executive Officer, bought 20,000 shares in the company on the 5th October 2018 at a price of 394.80p. The Director now holds 220,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Ralf Wunderlich, Non Executive Director, bought 10,000 shares in the company on the 20th September 2018 at a price of 412.00p. The Director now holds 121,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Deutsche Bank today reaffirms its buy investment rating on Essentra (LON:ESNT) and cut its price target to 460p (from 550p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
>> Read more >>Paul Forman, Chief Executive Officer, bought 20,000 shares in the company on the 5th September 2018 at a price of 441.00p. The Director now holds 200,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Ralf Wunderlich, Non Executive Director, bought 20,000 shares in the company on the 7th August 2018 at a price of 472.20p. The Director now holds 111,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Numis today reaffirms its hold investment rating on Essentra (LON:ESNT) and raised its price target to 510p (from 500p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
>> Read more >>Paul Forman, Chief Executive Officer, bought 20,000 shares in the company on the 6th August 2018 at a price of 472.40p. The Director now holds 180,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Essentra said Friday profit improved in the first half of the year but revenues fell as strong performance in its components division was weighed down by falling revenues across its other devisions. For the six months to 30 June, reported pretax rose 7% to £21m from £19m a year, revenue fell 1.8% to £513.1m and adjusted operating profit grew 2% to £44m. The underlying result reflected a continued strong result in components and sequential improvement in the rate of revenue decline in...
>> Read more >>Essentra said it had sold Dublin-based paper merchant Swiftbrook to Graphic and Paper Merchants, for an undisclosed consideration. For the year ended 31 December, the business generated revenue of €4.4m. Essentra sold the business to focus on areas were it had 'real strategic strengths,' chief executive Paul Forman said. At 2:29pm: (LON:ESNT) Essentra share price was -15.9p at 487.1p Story provided by StockMarketWire.com
>> Read more >>Essentra said Friday it had acquired Nolato Hertila for SEK 58m, or about £4.9m. Sweden-based Hertila is a manufacturer and distributor of caps and plugs and other plastic components for a wide range of industrial end markets including automotive, mining, coating, hydraulics and medical. The acquisition of Hertila is expected to not only expand the company's components division's product range but also add manufacturing capacity in Scandinavia, complementing Essentra's existing facility...
>> Read more >>Essentra said Wednesday it had appointed Lily Liu as Chief Financial Officer. Liu is expected to take up the role on 15 November, succeeding Stefan Schellinger. Liu would bring nearly 20 years of experience in the manufacturing and engineering sectors most recently as Chief Financial Officer, Xaar Plc Group, a FTSE listed inkjet technology developer and manufacturer of industrial inkjet printheads. Previously, Liu was Chief Financial Officer, Smiths Detection at Smiths Group Plc. Liu...
>> Read more >>Lorraine Trainer, Non Executive Director, bought 258 shares in the company on the 3rd May 2018 at a price of 454.60p. The Director now holds 8,505 shares representing 0.00% of the shares in issue. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Reports that Saudi Arabia would consider extending a deal to restrict global oil supply pushed Brent crude oil 1.4% higher to $74.55 per barrel. However, the FTSE 100 threatened to fall into the red amid weakness in the mining sector. The blue-chip index closed only 11.5 points higher at 7,328. Retail sales fell 0.5% in the first three months of 2017 as poor weather kept shoppers indoors, according to the Office for National Statistics. Copper cheapened 1% to $3.12 per pound and gold...
>> Read more >>Peel Hunt today reaffirms its buy investment rating on Essentra (LON:ESNT) and set its price target at 550p. Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
>> Read more >>The FTSE 100 enjoyed modest gains amid a raft of mostly positive corporate news, trading 0.1% higher at 7,327 around midday. Notable blue-chip risers included high street bank HSBC (HSBA) and Standard Chartered (STAN). Brent crude oil was up 0.6% at $74 per barrel. Department store operator Debenhams (DEB) was in the spotlight following underwhelming half year results and another downgrade to earnings guidance. Its shares eased back to 23.2p after an initial sharper fall this morning....
>> Read more >>Essentra remained confident that it would return to like-for-life revenue growth and margin expansion in the full year 2018 supported by strong performance in its components division and improvements in its packaging division. Like-for-like revenue grew about 2% for the financial year to date, in line with the firm's expectations. The components division, delivered strong growth driven by all geographic regions while a stable result in the filters segment reflected continued good...
>> Read more >>Peel Hunt today upgrades its investment rating on Essentra (LON:ESNT) to buy (from buy). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
>> Read more >>Paul Forman, Chief Executive Officer, bought 20,000 shares in the company on the 6th April 2018 at a price of 429.50p. The Director now holds 160,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Ralf Wunderlich, Non Executive Director, bought 38,700 shares in the company on the 21st March 2018 at a price of 452.00p. The Director now holds 91,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Mary Reilly, Non Executive Director, bought 7,500 shares in the company on the 21st March 2018 at a price of 452.90p. The Director now holds 7,500 shares representing 0.00% of the shares in issue. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Paul Forman, Chief Executive Officer, bought 20,000 shares in the company on the 16th March 2018 at a price of 461.00p. The Director now holds 140,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Stefan Schellinger, Financial Director, sold post-exercise 9,489 shares in the company on the 2nd March 2018 at a price of 464.40p. The Director now holds 15,263 shares. NOTE: Sold to meet tax liabilities etc. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Stefan Schellinger, Financial Director, exercised 4,174 shares in the company on the 2nd March 2018 at a price of 0.00p. The Director now holds 6,966 shares representing 0.00% of the shares in issue. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Stefan Schellinger, Financial Director, exercised 4,174 shares in the company on the 2nd March 2018 at a price of 0.00p. The Director now holds 6,966 shares representing 0.00% of the shares in issue. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>Stefan Schellinger, Financial Director, exercised 4,174 shares in the company on the 2nd March 2018 at a price of 0.00p. The Director now holds 6,966 shares representing 0.00% of the shares in issue. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk
>> Read more >>US President Donald Trump's decision to impose a 10% tariff on aluminum caused a sell-off in the mining sector amid concern his move could prompt a trade war. The FTSE dropped 1.5% to 7,069, while Wall Street suffered a smaller decline. The S&P 500 was 0.5% lower at 2,663 around 4:45pm UK time. Also today, the pound fell as Theresa May articulated the fact the UK would lose some of its access to the single market in her widely trailed Brexit speech. Rio Tinto (RIO) was the biggest...
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