Filtrona, the FTSE 250 supplier of speciality plastic, fibre and foam products, remains one of the stars of the market after reporting growth across all its divisions in the three months to the end of March.
Total sales grew by 21%, or 22% on a constant currency basis. Total like-for-like sales increased by 8% on a constant currency basis.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Porous technologies gained 3% on the prior year, mainly from an increase in orders from the printer systems unit.
The coated and security products division achieved like-for-like sales growth of 4%, led by packaging solutions in tobacco although there was weakness in the smaller Enitor plastic extrusion business.
Filter products gained 4% or 7% on a constant currencies basis.
In Tuesday's update, Filtrona also announced that it has purchased South Korean outfit Jae Yong, a manufacturer of reservoirs, nibs and tubes for pens. For the year ended December 31st 2011, Jae Yong had gross assets of £1.4m, and Filtrona say the transaction will be immediately earnings enhancing.
Filtrona shares had climbed 1.6% by 08:24. Over the last year the company has grown its value by 38.7%.
BS
-
Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
-
How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
