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Components supplier Essentra reported a sharp rise in profit following strong performance in its components and filters segments. For the half year ended 30 June, pre-tax profit jumped to £23.1 million from £7.9 million year-on-year as revenue increased 6% to £475 million.
Looking ahead, the company expects to deliver a fiscal 2021 operating profit in line with the board's expectations.
'Both components and filters should see a continuation in growth whilst in packaging we expect to see the market return to moderate growth in the second half of 2021,' the company said.