Essentra shares fall after COVID update

By
0 mins. to read
Essentra shares fall after COVID update
Master Investor Magazine

Master Investor Magazine 60

Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

FTSE 250 plastics producer Essentra (LON:ESNT) saw its share price decline 6.22% to 238.40p (as of 12:40 GMT) as it announced a number of cost cutting measures including hiring and overtime freezes, marketing spend reductions, and the cancellation of dividends. Management said that they were also exploring government support programmes where available, including the Bank of England’s Covid Corporate Financing Facility.

The company said it was too early to give clear indications on performance for the current year, but that they would continue to pursue medium to long term growth despite the current disruption.

Take part in our poll

We are reviewing our communications and would value your feedback. Ideally, how often would you like to hear from us?


Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *