Filtrona's share price rose by over 4 per cent to close in on an all-time high in response to half-year results that beat analysts' estimates and revealed a substantial hike in the half-year payout. The market value of Filtrona - up by a quarter this year - reflects solid support for the specialist plastics supplier and with some justification.
IC TIP:
Hold
at
478p
On an underlying basis, both pre-tax profits and adjusted EPS rose 24 per cent to £49.1m and 16.3p, respectively, and Filtrona chief executive Colin Day believes that the business is "well positioned" to achieve its 2015 revenue and earnings target of "at least mid-single digit like-for-like revenue growth and double-digit EPS growth at constant exchange rates".