Preliminary Results 2006

NewsPreliminary Results 2006

1 March 2007

Filtrona plc, the international, market leading, speciality plastic and fibre products supplier, today announces annual results for the year ended 31December 2006.

Financial Highlights

Revenue up 5.9% to Ł544.2m (2005: Ł513.7m)
Operating profit before intangible amortisation up 6.6% to Ł61.6m (2005: Ł57.8m) with underlying operating profit growth up 9.0%^#
Profit before tax up 9.2% to Ł54.6m (2005: Ł50.0m)
81% increase in net cash inflow before financing activities to Ł28.6m (2005: Ł15.8m)
Diluted earnings per share up 8.3% to 15.6p
Full year dividend of 6.9p per share providing an increase of 7.8% compared with 6.4p for 2005

^# after taking account of the impact of foreign currency translation and a full year of central service cost.

Operational Highlights

Strong growth of higher margin businesses in Plastic Technologies with Protection and Finishing Products now the largest profit contributing line of business
Continued expansion of manufacturing and supply operations in lower cost regions including the Ningbo factory in China
Significant investment in geographic expansion, product innovation and intellectual property development to drive organic growth
Company remains active in the pursuit of value enhancing acquisitions in selected niche markets

Commenting on today’s announcement, Jeff Harris, Chairman of Filtrona, said:-

“These are a strong set of results for Filtrona’s first full year as an independent listed company. The achievement of above trend organic operating profit growth reflects our continued investment to drive improved operational efficiency, geographic expansion and product innovation. Filtrona’s international niche market positions and strong balance sheet give the Board confidence in the Company’s continued progress.”