(MENAFN- ProactiveInvestors)Plastic products and fibres specialist supplier Essentra (LON:ESNT) shares picked up as sales and underlying profits both rose sharply. Revenue rose 27% to £1.1bln with adjusted profits 21% better at £161mln though pre-tax profits were dragged down by costs of acquisitions and fell 10% to £90.4mln. Over the year the group acquired Clondalkin packaging division and closed a number of its sites. The collapse of oil and gas prices also affected profits as operators cut costs reducing demand for plastic pipes. Essentra still expects to pay a final dividend of 14.4p per share up 2.2p from last year. Total dividend for the year was up 13% to 20.7p per share. Colin Day chief executive remained optimistic: "In an environment where economic growth is by no means well-established or uniform - notably in the oil and gas industry - we are nonetheless confident of delivering balanced profitable growth in 2016 due to our international footprint and diverse range of products and end-markets.' Essentra shares rose 6% to 792p.
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