Shares of Essentra PLC (LSE:ESNT) edged higher after the components maker swung to an annual profit and said it has made a strong start to the current year, shrugging off supply chain challenges.
The Milton Keynes, England-based company posted net income of £28mln for 2021, recovering from a loss of £2mln the year before. Revenue rose 7% to £960mln.
In response to rising inflation, the company said it will “continue to implement pricing actions alongside local cost mitigation”. The company also noted exchange rate headwinds.
However, the sales and order book for this year is ahead of 2021, Essentra said on Friday.
The shares were up 1%, paring the loss for the year to about 7%.