Trading Update-Ahead of Expectations

RNS Number : 5963B

Porvair PLC

04 October 2022

 

For immediate release   4 October 2022

Porvair plc

Trading Update-Ahead of Expectations

Further to the announcement made on 13 September 2022, Porvair plc ("the Group") announces that following a strong start to the final quarter, Final Results for the 12 months ended 30 November 2022 are likely to be ahead of market expectations.

All three divisions are expected to show growth at a constant currency level at sustained margins, and statutory numbers will also benefit from foreign exchange translation in 2022.  Underlying drivers of demand for the Group's products remain in place: tightening environmental regulation; the growth of analytical science; clean water regulation; the use of aluminium in electric vehicles and recyclable packaging; and the drive to reduce waste in manufacturing. The Group expects to move into 2023 with a strong balance sheet showing positive net cash.

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For further information please contact:

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

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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