AGM Trading Update

RNS Number : 0663L

Porvair PLC

17 April 2018

 

FOR IMMEDIATE RELEASE                                                                              17 April 2018

AGM 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 2018 achieving revenue growth of 9% in the four months ended 31 March 2018.  Profits for the period are in line with management's expectations. Order books are healthy.

On 7 December 2017, the Laboratory division acquired Rohasys B.V.  This small acquisition brings robotic sample handling expertise to the division, which enhances the Group's growing bioscience sample preparation capabilities.  It is performing as expected and creating interest amongst the Laboratory division's customers.

On 28 February 2018, the Aerospace and Industrial division acquired the goodwill, business and trading assets of Keystone Filter ("Keystone") for cash.  Keystone designs and manufactures a range of filter cartridges and housings for the food and beverage, drinking water, and chemical process markets in the US.  Plans to move the operation to our plant in Virginia are on track.

The Group will announce its interim results for the six months ending 31 May 2018 on Monday 25 June 2018.

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 / Steph Watson

Notes to Editors:

Porvair is a group of specialist filtration, separation and environmental technologies businesses.  Its products are used in a range of niche filtration and separation markets and are derived from its expertise in the design and manufacture of filtration and separation systems.  From the 2018 financial year it is organised into three divisions: Aerospace & Industrial; Laboratory; and Metal Melt Quality.

 

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