The Essentra UK Pension Scheme has completed a £24m buyout of the Senior Section of the scheme, the group's half-year results have revealed.

The transaction was completed by the scheme's trustees in May 2025, leaving no obligations within the Senior Section.

The results also included a funding update, which revealed that the market value of assets for the Essentra section of the scheme was £108.5m at at 30 June 2025, with corresponding pensions obligations of £94.9m.

Alongside a small residual net current asset of £0.2m left within the Senior Section, there was an overall surplus of £13.8m.

Overall, Essentra said its H1 2025 performance was in line with the board's expectations, after it generated revenue of £152.4m, a slight decrease from the same period last year (£159.7m).

Looking ahead, the half-year report confirmed that board expectations for the rest of 2025's adjusted operating profit remained unchanged, with margins expected to improve through H2 because of operational and commercial initiatives that have been actioned in the first half, including a review of footprint and enhanced pricing initiatives.

The firm said these actions, alongside volumes remaining consistent with Q2 levels, will support margin accretion and modest revenue growth in the second half of the year, the report concluded.

Commenting on the half-year results, Essentra chief executive, Scott Fawcett, said the group had delivered a financial performance in line with board expectations, whilst navigating continued external global challenges and mixed macroeconomic conditions.

"We have been particularly encouraged by the resilience and performance in Americas and APAC through the first half of 2025, with both regions returning to year-on-year revenue
growth," he continued.

Fawcett noted that the H1 2025 revenue performance improved sequentially from the exit rate in H2 2024, with further growth of 1.1 per cent in Q2 2025 compared to Q1.

"It is also encouraging that there are signs of momentum in new order intake, with all three regions reporting an increase year-on-year," he added.

"The group continues to demonstrate excellent cash control, with conversion in the period of 106 per cent, underpinning balance sheet strength and flexibility, and supporting delivery of our growth strategy both via organic investment and providing optionality for bolt-on acquisition opportunities."

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