Edition:
India

Essentra Says Group Not Materially Impacted By Covid-19 In Q1 But Disruption Felt In April


Thursday, 21 May 2020 

May 21 (Reuters) - Essentra PLC ::FURTHER COVID-19 UPDATE.GROUPWIDE PERFORMANCE NOT MATERIALLY IMPACTED BY COVID-19 IN Q1, BUT DISRUPTION TO TRADING FELT IN APRIL.MOST SIGNIFICANT VIRUS IMPACT IN COMPONENTS, WITH UNDERLYING DEMAND IN PACKAGING AND FILTERS ROBUST.ALL 71 MANUFACTURING AND DISTRIBUTION FACILITIES ARE NOW OPERATIONAL.OUTCOME FOR APRIL WAS IN LINE WITH WHERE COMPANY EXPECTED IT TO BE AT START OF MONTH.Q1 GROUP LIKE-FOR-LIKE (LFL) REVENUE DECLINED 7%.Q1 TOTAL COMPONENTS LFL REVENUE WAS 5% DOWN ON PRIOR YEAR PERIOD.GROUP LIKE-FOR-LIKE (LFL) REVENUE DECLINED 17% IN APRIL.ANTICIPATES INEVITABLE CONTINUED DISRUPTION TO ITS TRADING IN COMING MONTHS.STILL TOO EARLY TO CALL OUT FULL EXTENT OF RESULTING IMPACT ON FULL YEAR FINANCIAL PERFORMANCE - HENCE ANY GUIDANCE REMAINS ABSENT.ALSO RECOGNISES THAT THERE IS A RISK OF A SECOND WAVE TO PANDEMIC, WHICH COULD ADVERSELY IMPACT TRADING BEYOND Q2.