Interim Management Statement

RNS Number : 5213O

Porvair PLC

20 September 2011

 



            `                                                                                               20 September 2011

Interim Management Statement

Porvair plc ("Porvair"), the specialist filtration and environmental technology group today, 20 September 2011, makes the following Interim Management Statement.

Porvair continues to trade well.  In the nine months to 31 August 2011, at constant exchange rates, revenues were 7% higher than in the first nine months of 2010 ("the prior period") and profit before tax was well ahead of the prior period.  Management now expects operating performance for the full year to be ahead of expectations.  

In the Metals Filtration division sales revenues were well ahead of the prior period.  Revenue growth and higher margins from further conversion to the next generation products have improved operating profit significantly.

In the Microfiltration division sales revenues and operating profits were ahead of the prior period.  Revenue from aerospace was well ahead of the prior period and the schedules support a strong final quarter.  As expected Seal has begun to recover from the lower revenue reported at the half year.  Other parts of the Microfiltration division continue to perform in line with expectations and several significant nuclear and energy orders are expected to be shipped in the final quarter. 

Net debt is £3m lower than at the same time in the prior period which is reflected in a lower group interest charge.

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 / Catherine Breen/ Helen Chan

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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