Essentra revenues tick up despite 'uncertain' macro environment

Essential components provider Essentra traded in line with expectations during the first four months of the year, delivering like-for-like revenue growth of 1%.

Essentra saw a "modest increase" in components revenues, reflecting successful pricing initiatives which were partially offset by a softer end-market backdrop.

The FTSE 250-listed company's packaging unit saw underlying revenue momentum remain strong, with good growth in both Europe and the Americas boosted by new business wins, while its filters division returned to growth, making "encouraging" progress.

Essentra's specialist components arm showed a low single-digit like-for-like revenue decline.

The company left its full-year outlook unchanged despite an uncertain macro environment, and said it expects to make further strategic progress.

At 0900 BST, Essentra shares were down 1.66% to 399.83p.