AGM Statement and Trading Update

RNS Number : 1163C

Porvair PLC

11 April 2017

 

FOR IMMEDIATE RELEASE                                                                              11 April 2017

Porvair plc  

AGM Statement and Trading Update

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

Porvair has made a good start to 2017 achieving revenue growth of 6% in the four months ended 31 March 2017.  Underlying revenue⁽¹⁾ was 7% ahead of the prior year.  Aerospace, US industrial and Seal Analytical all performed well.   Progress towards commissioning large projects continues on track with very little revenue recognised compared with the prior period, as expected.  Order books for the balance of the year are healthy.

On 5 April 2017, the Group announced the acquisition of J. G. Finneran Associates, Inc. ("JGF").  JGF designs, manufactures and distributes specialist laboratory consumables including filters, vials, microplates, closures and ancillary products.  It brings manufacturing capabilities and strong US distribution to the Group.  Together the Group has a broad product offering for chromatography, sample preparation and environmental laboratories and opportunities exist for combining manufacturing and marketing activities. 

The Group will announce its interim results for the six months ending 31 May 2017 on Tuesday 27 June 2017.

Note (1)   Underlying revenue: Revenue at constant currency 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, laboratory supplies and non-ferrous metals.

 

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