Manufacturer and distributor of components, including furniture protection solutions, Essentra, has maintained its strong start to the year.
According to its latest trading update, half-year 2022 sales rose 14% compared to the same period in the prior year, supported by pricing initiatives and volume growth.
“Q2 trading continued to show good growth momentum albeit against tougher comparatives as expected, with LFL growth of 9% compared with Q2 2021,” the company said.
Within its Components division, like-for-like sales were up 12.1%, while its Filters division saw sales growth of 15.4%.
During the period, the company sold its Packaging division to Mayr-Melnhof Group for a sum of £312m. This division saw H1 LFL revenue growth of 9.6% ahead of the sale.
Paul Forman, Chief Executive, said: “I am pleased with the strong start to the year that we have delivered. The strategic reviews remain on track and the recent announcement of the sale of Packaging is the first step to reposition Essentra as a leading manufacturer and distributor of components.
“Whilst we remain mindful of the current economic environment including ongoing cost inflation, the business remains on track to deliver adjusted operating profit in line with the Board’s expectations”