Strip Tinning Holdings plc confirmed earnings guidance for the year ended 31 December 2022. The Board confirmed that fiscal year 2022 revenue is expected to be in line with market expectations. Performance during the period has been improving steadily with sales in the second half of the year recovering significantly from the first half low.

That said, sales remain below the 2021 level as a result of the ongoing impact of the war in the Ukraine and supply shortages reducing automotive vehicle production worldwide. The Company's glazing customers are multi-national Tier One suppliers, through which its products reach the majority of global OEMs in multiple global locations which as announced in May 2022, then included some OEM production facilities in Russia. The Company estimates, the 2021 to 2022 variance on the loss of such product shipments to Russia amounted to a £1.5m adverse impact.