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Filtrona Says Full-Year Profit Climbs on Higher Margin Growth

Feb. 24 (Bloomberg) -- Filtrona Plc, a U.K. maker of plastic packaging and cigarette filters, said full-year profit rose, helped by growth in higher margin divisions.

Net income for the year ended Dec. 31 rose to 47.7 million pounds ($77.3 million) from 11.8 million pounds a year earlier, the Milton Keynes, England-based company said today in a statement distributed by the Regulatory News Service. Revenue climbed 10 percent to 489.6 million pounds.

“We are pleased with the company’s results in 2010 which demonstrate that Filtrona has returned to a positive growth path,” Chief Executive Officer Mark Harper said in the statement. “The positive momentum from 2010 has continued into the early part of the current year.”

Adjusted operating profit at Filtrona’s protection and finishing products division climbed 81.1 percent from a year earlier, and rose 22.1 percent at the porous technologies division.

To contact the reporter on this story: Colm Heatley in Belfast at cheatley@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net

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