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Essentra

September 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ESNT
  • Price:
  • 148p
H1 comparisons with the prior year are, of course, distorted by business disposals - so this is best thought of as being a “stub” year for Essentra while management get their ducks in a row to start the M&A roll up.  The group delivered £20.5m of operating cash to leave net debt at £8.3m and acquisitions are going to play a key supporting role in the group’s revitalised prospects with a regular flow of moderate-sized deals to come. These deals, which are going to be invariably financed out of the strong cash flow, either strengthen existing subsidiaries or take the group into new areas with the same niche-dominant high-return characteristics.  Reflecting the fact that most manufacturer customers are being hit by falling ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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