Essentra (GB:ESNT) has released an update.
Essentra plc, a global manufacturer of essential components, has revised its full-year 2024 adjusted operating profit forecast to £40m-£42m, a decrease from the market’s expectation of £48.4m-£49.7m, due to challenging market conditions and adverse foreign exchange impacts. Despite the market downturn and slower recovery in the Americas, management remains confident in Essentra’s business model, citing a strong balance sheet and operational leverage that could benefit future growth. The company will release its Q3 results on October 24, 2024.
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