AGM Statement and Trading Update

RNS Number : 8477U

Porvair PLC

12 April 2016

 

FOR IMMEDIATE RELEASE                                                                              12 April 2016

Porvair plc  

AGM Statement and Trading Update

Porvair plc ("Porvair"), the specialist filtration and environmental technology group will today, 12 April 2016, make the following trading update at its Annual General Meeting:

Porvair has made a good start to 2016 with overall constant currency revenue growth of 14% in the first four months ended 31 March 2016.  Underlying revenue⁽¹⁾ growth was 5%.  This is in line with management's expectations.

Both divisions have performed well with aerospace, aluminium and bioscience filtration revenues all ahead of the prior period. Seal Analytical also continues to grow.  Trading at TEM, the acquisition completed in December, has been encouraging.  A new facility in Ashland, Virginia, to support Microfiltration's business in the US will open in April.  Gasification projects are on track with commissioning of the first installation in Korea already underway. 

Order books for the balance of the year are healthy.

The Company will announce its interim results for the six months ending 31 May 2016 on Monday 27 June 2016.

Note (1)   Underlying revenue: Revenue excluding the impact of large projects.

For further information, please contact:

Porvair plc	01553 765 500
Ben Stocks, Chief Executive
Chris Tyler, Group Finance Director
Buchanan Communications	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.

 

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