26th Apr 2006 10:54
Filtrona plc26 April 2006 Filtrona plc AGM Trading Statement Filtrona plc advises that it is to hold its Annual General Meeting later today. At the meeting, Jeff Harris, Chairman, will make the following statement toshareholders. "In the year to date, the group has delivered a good financial performance inline with the Board's expectations. Underlying sales growth in both Plastic and Fibre Technologies has been inexcess of historical growth rates, with additional benefit derived from foreigncurrency exchange movements. Plastic Technologies has continued to deliver strong growth and the business hasperformed well across all markets and geographies. FractureCode continues on its successful development path and progress with ourlaunch customer remains encouraging. The product will be launched to the generalmarket in May at the Intergraf security printers' conference. Sustained investment in new products, marketing programmes and productivityimprovements continue to drive strong growth in this segment. Fibre Technologies has seen sales momentum increase from that delivered in thesecond half of 2005 with growth in special filters and bonded non-woven fibresmore than offsetting the anticipated decline in the simpler mono acetatefilters. However, as expected, profits continue to be held back by the costsrequired to generate world class levels of quality and productivity at ourMonterrey, Mexico facility and to integrate the technology transferred from theSwiss Filters facility into our Jarrow facility in the UK. Filtrona's continued investment both in developing its niche market positionsthrough service, supply chain and new product development and in productivityimprovement programmes gives the Board confidence that Filtrona's financialperformance will continue to develop satisfactorily and in accordance with theBoard's expectations." Editor's Note: Plastic Technologies produces, sources and distributes protection and finishingproducts, self-adhesive tear tape and certain security products as well asproprietary and customised plastic extrusions and packaging items for consumerproducts. Fibre Technologies focuses on the production and supply of special filters forcigarettes and bonded fibre products such as reservoirs and wicks for writinginstruments and printers, household products and medical diagnostic devices. Enquiries: Filtrona plc Tel: 01908 359 100 Mark Harper, Chief Executive Steve Dryden, Finance Director Finsbury Tel: 020 7251 3801 Morgan Bone Gordon Simpson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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