AGM Statement and IMS

RNS Number : 0518B

Porvair PLC

11 April 2012

 



FOR IMMEDIATE RELEASE                                                                              11 April 2012

Porvair plc

AGM Statement and Interim Management Statement

Porvair plc ("Porvair"), the specialist filtration and environmental technology group will today, 11 April 2012, make the following Interim Management Statement at its Annual General Meeting:

Porvair has made a good start to the 2012 financial year.  In the four months to 31 March 2012, revenues are around 12% ahead of the same period in the prior year and profit before tax is ahead of management's expectations and the prior period.  Order books have strengthened throughout the period and the outlook for the coming months is encouraging.

In the Metals Filtration division sales revenue was 15% higher than the same period in the prior year and margins continue to improve.  Selee CS-X™ aluminium cast house filters have made further steady market share gains and sales of Selee IC™ iron foundry filters have benefited specifically from growth in the US automotive market.  Sales from the plant in Wuhan, China, are ahead of the prior year.  The products acquired with the acquisition of Pell Industries have been integrated into the existing facilities and initial shipments have been made.

In the Microfiltration division sales revenues were 10% ahead of the same period in the prior year.  Revenue from aerospace grew by 22% and the order book strengthened throughout the period.  Seal Analytical revenues are ahead of the prior year and the block digester product line acquired in December has already been integrated into the existing US operations. 

The Company will be announcing its interim results for the six months ending 31 May 2012 on Tuesday 26 June 2012.

For further information, please contact:

Porvair plc	01553 765 500
Ben Stocks, Chief Executive
Chris Tyler, Group Finance Director
Buchanan	0207 466 5000
Charles Ryland / Catherine Breen

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.

 

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