Essentra PLC (LON:ESNT) has revealed that two of its health and personal care packaging sites in Puerto Rico have been disrupted as a result of the recent Hurricane Maria, and detailed the profit impact of previous storms this year on its business.
In a statement, the FTSE 250-listed group said that there are "significant impediments" to resuming manufacturing activity and it estimated the financial impact on the company to be in the range of £500,000 to £750,000 per week
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Although the group added that it expects a significant part of that cost “ultimately to be recovered through the Company's comprehensive insurance policies.”
The firm added that, having already experienced some minor disruption from Hurricanes Harvey and Irma to its sites in Houston, Largo and Puerto Rico, it estimates the profit impact from these previous storms - prior to Maria - to be in the range of £0.5mln-£1.0mln.
The firm – a supplier of specialty plastic and packaging products – said that facilities its Manati and Guaynabo sites in Puerto Rico have not sustained "significant physical damage”.
Esentra concluded: “It is not currently possible to confirm the timing that normal output levels will be resumed, however, this is unlikely to be in the immediate future".
Paul Forman, Essentra’s chief executive, said: “Given the exceptional nature of Hurricane Maria and the current level of uncertainty regarding its ongoing impact, the Company is clearly continuing to closely monitor the situation in Puerto Rico and will provide an update in our next trading statement, or when we have greater clarity if earlier."