Porvair PLC Trading Update (0812R)
September 19 2017 - 2:00AM
UK Regulatory
TIDMPRV
RNS Number : 0812R
Porvair PLC
19 September 2017
For immediate release 19 September 2017
Porvair plc
("Porvair" or the "Group")
Trading Update
Porvair, the specialist filtration and environmental
technologies group, today issues a trading update for the nine
months ended 31 August 2017.
Porvair continued to make good progress in the nine month
period, achieving revenue growth of 8%. Growth in the third quarter
was in line with growth reported at the half year. Profit before
tax for the nine month period was ahead of management's
expectations.
Underlying revenue(1) was 13% ahead of the prior period.
Aerospace, US industrial, Seal Analytical and Aluminium filtration
continued to perform well. The integration of J G Finneran
Associates Inc. ("JGF") is on track and trading has been good,
contributing 5% to the underlying revenue growth. Progress towards
commissioning Porvair's large projects continues. As expected,
little revenue has been recognised compared with the prior period.
Order books for the final quarter of the year are healthy across
the Group.
Net cash at 31 August 2017 was close to GBP4 million (31 August
2016: GBP6 million).
Note (1) Underlying revenue: Revenue at constant currency excluding the impact of large projects.
For more information, contact:
Porvair plc
Ben Stocks, Chief Executive 01553 765 500
Chris Tyler, Group Finance Director 01553 765 500
Buchanan 0207 466 5000
Charles Ryland / Stephanie Watson
Notes to Editors
Porvair is a group of specialist filtration and environmental
technology businesses. Its businesses design and manufacture a
range of bespoke consumable filtration products that are used in a
range of niche filtration markets. Its principal markets are
aviation, energy and industrial process, environmental laboratories
and non-ferrous metals.
This information is provided by RNS
The company news service from the London Stock Exchange
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