Expansion pays off at Filtrona as profit soars

HARRY BANKS

PLASTICS group Filtrona yesterday reported a 26 per cent rise in full-year profit, helped by acquisitions.

Filtrona also said it acquired Ulinco Components AB, a Sweden-based distributor of plastic protection and finishing products.

It also announced a joint venture with tobacco company BBM Bommidala Group in the United Arab Emirates.

Adjusted pre-tax profit rose to £95.8m in 2012, from £76.2m a year earlier.

Revenue increased by 23 per cent to £663.4m.

“Our results were supported by successful new product development, range expansion and geographic roll-out, and were underpinned by further investment, organisational changes and a more focused commercial structure,” said Colin Day, chief executive of the FTSE 250-listed firm.