Trading Update

RNS Number : 3926Q

Porvair PLC

06 June 2018

 

For immediate release                                                                                                                    6 June 2018

Porvair plc

("Porvair" or "The Group")

Trading Update

Porvair, the specialist filtration and environmental technologies Group, today issues a trading update ahead of the publication of its interim results for the six months ended 31 May 2018 on Monday 25 June 2018.

Porvair has continued to trade well, delivering revenue growth of 8% in the period, underlying revenue⁽¹⁾ was up 13%.  Profit for the period and earnings per share are expected to be ahead of the prior year, in line with management expectations.  Net cash at 31 May 2018 was close to £2 million after investing around £7 million in capital expenditure and acquisitions.

A one-off non-cash reduction in deferred tax liabilities following the December 2017 changes in US tax rates will benefit reported earnings per share in the period by approximately 2 pence per share.

The interim results will be announced on Monday 25 June 2018.  An analyst briefing will be held at 9.30 a.m. that day at Buchanan, 107 Cheapside, London, EC2V 6DN.

Note (1)   Underlying revenue: Revenue at constant currency excluding the impact of large projects.

For more information, contact:

Porvair plc
Ben Stocks, Chief Executive	01553 765 500
Chris Tyler, Group Finance Director	01553 765 500
Buchanan	0207 466 5000
Charles Ryland / Steph 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, laboratories and non-ferrous metals.

 

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