Shares in Essentra (ESNT) were marked up slightly despite the release of a third-quarter trading update that pointed to a slight decline in operating margins at its health and personal care packaging business. This followed on from damage at two of its Puerto Rico sites, which were hit by hurricane Maria last month.
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There’s little management can do when faced with an Act of God, but the specialist packaging group also revealed that trading in the third quarter showed modest like-for-like revenue growth – with improved trends in all three divisions compared with the first half of 2017.
