LONDON (dpa-AFX) - Filtrona Plc (FLTR.L) issued interim management statement for the period from January 1, 2012.
According to the company, during the first quarter of 2012, its overall performance was in line with the Board's expectations. Revenue rose 22% versus last year at constant FX and up 21% at actual rates. Like-for-like growth was 8%.
Besides, there had been no material change in the financial position of the company during the period.
Filtrona said it acquired 100% of the share capital of Securit World Ltd. for a cash consideration of 6 million pounds. The company further announced that it has completed the acquisition of 100% of the share capital of Jae Yong Co. Ltd. from the Lee family for an undisclosed cash consideration funded from the company's existing facilities.
Colin Day, chief executive, commented, 'With Q1 revenue ahead 8% on a like-for-like basis and 22% at constant exchange, the company has not only maintained its positive organic growth trend into 2012 but is also progressing well with the integration of recent acquisitions. Given this strong start to the year, Filtrona remains well-positioned to deliver further balanced growth in 2012 and to continue to make progress towards its Vision 2015 objectives of at least mid single-digit like-for-like revenue growth and double-digit adjusted EPS growth at constant exchange.'
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© 2012 AFX News
