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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.