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Essential components maker Essentra said 'strong' performance in its components division helped boost second-quarter revenue, and added that it would hike prices in the second half of the year to offset rising input costs.
In the second quarter, revenue increased 13.6% on the prior year, ad was up 2.4% on like for like basis when compared to pre-pandemic second-quarter in 2019.
In the first half of the year like-for-like growth was up 7.4%.
The components division reported LFL revenue per working day up 38% on last year and 7% from Q2 2019, while packaging division saw a Q2 2021 LFL revenue decline of 4.9%.
'Although the pandemic continues to cause some uncertainty in the macro-economic environment, recent order book trends remain positive across the group,;' the company said.
Looking ahead, Essentra said it would raise price in its components and packaging divisions in the second half of the year, to offset inflationary pressures.
The recently announced acquisition of Jiangxi Hengzhu Electrical Cabinet Lock Co., Ltd is on track to complete in Q3 2021, the company said.