StockMarketWire.com - Component parts maker Essentra said performance took a turn lower in April as the impact from the Covid-19 pandemic deepened, with sales in its components business down by nearly a quarter.

The downturn in performance in April was in line with where the company expected it to be at the start of the month, Essentra said.

Overall the components division like-for-like was 24% down on the prior year in April. May performance-to-date looked to be in line or marginally ahead of performance seen in April, the company said.

Like-for-like revenue declined 7% in the first quarter of the year, with like-for-like revenue in both its components and packaging down 5% on-year.

'The current expectation for May, subject to further adverse pandemic developments, is at least in line with the April performance, Essentra said. 'Nonetheless, the Company also recognises that there is a risk of a second wave to the pandemic, which could adversely impact trading beyond Q2.' At 8:24am: [LON:ESNT] Essentra PLC share price was -5.9p at 273.7p



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