AGM Statement and Trading Update

RNS Number : 0662K

Porvair PLC

14 April 2015

 



FOR IMMEDIATE RELEASE                                                                              14 April 2015

Porvair plc

AGM Statement and Trading Update

Porvair plc ("Porvair"), the specialist filtration and environmental technology group will today, 14 April 2015, make the following Trading Statement at its Annual General Meeting:

Porvair has made a good start to 2015 with underlying revenue 6% ahead of the same period in the prior year.

As previously explained, there will not be a recurrence in 2015 of the unusually high revenues recognised from several large projects in 2014. Total revenues are therefore 4% lower than the prior year, just ahead of management expectation.

Underlying revenue in Microfiltration was 7% ahead of the prior year and new facilities in New Milton, UK and Caribou, Maine have been completed on time and budget and brought on stream to accommodate growth.  The large projects continue to progress well.  Metals Filtration's revenue was 5% ahead of the prior year (3% lower in constant currency).  Expansion in Wuhan, China is underway.

The outlook is encouraging with orders books remaining strong.

The Company will be announcing its interim results for the six months ending 31 May 2015 on Monday 29 June 2015.

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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