Essentra plc Announces Interim Management Statement for the Third Quarter and Nine Months Ended September 30, 2018; Re-Affirms Earnings Guidance for the Full Year 2018
For the nine months ended 30 September 2018, these businesses generated combined revenue of £16 million and an operating loss of approximately £1 million: the closures would result in an exceptional charge in second half of 2018 of £12 million. The cash element of this charge £4 million is expected to be offset by the anticipated proceeds realized from the disposal of the assets and freehold property in Largo, such that the total cash flow impact of the site closures will be at least neutral.
The outlook for the full year 2018 remains as previously communicated.