- 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 packaging, with the performance in both filters and specialist components in line with expectations, the company said.

The components divisions saw a 16% rise in like-for-like revenue while the packaging, filters and specialist components divisions experienced declines.

Looking ahead, the company said it expected its components divisions to continue to deliver growth. 'Our expectation for the total group to deliver like-for-like revenue growth and margin expansion in 2018 is unchanged,' Essentra said.

At 8:23am: [LON:ESNT] Essentra share price was +19.9p at 501.5p

Story provided by