AGM Trading Update & Board Update

Porvair PLC

16 April 2024

 

For immediate release                                                                                                                   16 April 2024

Porvair plc ("Porvair" or the "Group")

AGM Trading Update

Board Update

Porvair plc, the specialist filtration, laboratory and environmental technology group, will make the following trading statement at its Annual General Meeting later today at 11:00 a.m.

At the time of the results statement in early February the Board noted its optimism for 2024 and beyond, and this has not changed. Opportunities afforded by recent acquisitions; strong order books in aerospace and petrochemical; and new product introductions at Seal Analytical are all developing as planned. De-stocking in laboratory markets is easing and lead times are returning to more normal levels. Industrial consumable order patterns, while still weaker than the prior year, are now also steadier, with several large orders, including one for gasification spares, due to ship at the end of the year and into 2025. As outlined in February, the Board expects a quieter first half of 2024 to be followed by a stronger second half, in line with market expectations.

With the Group trading well, Ben Stocks has indicated his intention to retire in early 2025 once a successor has been appointed and settled into the role. The Nominations Committee has started a search both internally and externally and will report progress as appropriate.

The Group will announce its interim results for the six months ending 31 May 2024 on Monday 1 July 2024.

For further information, please contact:

Porvair plc
Ben Stocks, Group Chief Executive	01553 765 500
James Mills, Group Finance Director
Buchanan Communications	020 7466 5000
Charles Ryland / Stephanie Whitmore

Notes to Editors

Porvair is a group of specialist filtration, laboratory 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. It operates in three divisions: Aerospace & Industrial; Laboratory; and Metal Melt Quality.

 

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