Porvair Share Discussion Threads

[battlebus2] 19/4/2012 07:21

Small director buy of 5000 shares by company chairman Charles Matthew. Next stop £1.40

[shauney2] 18/4/2012 19:01

Off the top of my head i think the 5 year high is 135p.So not far from a real breakout.
Intersting thought re Cookson.Intriging that the Italian filter comapny guy who has 22% of PRV seems happy to sit on his stake. He could of more than doubled his money in 2011.

[cfro] 18/4/2012 18:42

IC2, you have mail. :-)

[battlebus2] 18/4/2012 18:23

Can't see any downside C.R. so a smart move imv.

[cockneyrebel] 18/4/2012 18:05

been waiting for a dip to buy in on but failed to get one - bought in today.

CR

[dozey1] 18/4/2012 17:56

Strange no indication was given of the price paid for Pulse, nor whether present management are to remain at the helm. I hope the next takeover bid we hear of is one from Cookson for PRV around the 190-200 mark. The metal filtration division would surely be a wonderful fit. That would do nicely for me.

[interceptor2] 18/4/2012 15:13

I think the chart above which shows the relationship between the share price and EPS historic and forecast is of interest. The glitch in growth can clearly be seen in 2009/10, which was caused by sharp fall in demand at Metals Filtration as aluminium and US automotive de-stocking fed through the supply chain, which was all in H1 of 2009. But the business reacted swiftly to address costs, and cut headcount 15%.

As can be seen on the chart it is normal for the share price to stay some way over the EPS growth line, in 2006 and 2007 by some margin.

ic2...

[dolphinspirit] 18/4/2012 11:53

I wonder if this Acquisition is what Stonethecrow was alluding to?

Any comments Stone?

D

[battlebus2] 18/4/2012 09:40

Can see these trading at £2 medium term if the current momentum continues. Great to see a few more posters.

[interceptor2] 18/4/2012 09:21

Someone is keen buying 25k and paying 124.67p over ask.

ic2...

[cockerhoop] 18/4/2012 08:49

Anyone have any additional info on Pulse, quick search suggests its very small (approx $1m-$5m sales)

[interceptor2] 18/4/2012 08:33

Brought back in today on the back of another earnings enhancing acquisition. Always liked this company and the sector they operate in, PRV is the sort of company that I would like to hold long term as part of my core holding.

ic2...

[battlebus2] 18/4/2012 07:40

Another earnings enhancing acquisition :))

Acquisition of Pulse Instrumentation


RNS Number : 5339B

Porvair PLC

18 April 2012

For immediate release 18 April 2012

Porvair plc ("Porvair")

Acquisition of Pulse Instrumentation

Porvair, the specialist filtration and environmental technology group, today announces the acquisition of the business and assets of Pulse Instrumentation ("Pulse"), a Canadian business focussed on environmental laboratory supplies.

Pulse manufactures and distributes water analysis products, principally supplying environmental laboratories in the Americas. Its main line of business is consumable lab-ware. The acquisition expands Porvair's capabilities in the water analysis market by increasing the installed base of laboratories served; widening the range of products offered; and increasing the proportion of consumables sold. Pulse will be integrated into Porvair's Microfiltration Division.

The acquisition will be immediately earnings enhancing.

Ben Stocks, CEO of Porvair plc, said:

"Pulse complements our existing operations well. Porvair already has market leadership in the analysis of inorganic water contamination. Pulse will increase our customer base and product range, enabling us to pursue cross selling opportunities in the environmental laboratory market. We are grateful to the de Rooy family for their co-operation in this project."

For further information, please contact:


Porvair plc 01553 765 500
Ben Stocks, Chief Executive
Chris Tyler, Group Finance Director

Buchanan 0207 466 5000
Charles Ryland / Catherine Breen

[gargoyle2] 16/4/2012 02:43

Growth Company Investor have a buy recommendation (11 April at 115p):

Specialist filtration to environmental technology outfit Porvair (PRV) has made a good start to the year and is trading ahead of management expectations.

In the four months to March, sales are 12% better than the same period last year, which has pushed pre-tax profits higher than estimates. Order books have strengthened throughout the year, and the outlook continues to be encouraging for the months ahead.

Margins in the metals filtration arm continue to improve; moreover, sales in the same period are up 15%. Porvair is making good progress with its Selee CS-X aluminium cast house filters, and demand in the US for its iron foundry filters is also proving particularly strong. Last month it acquired Pell Industries, a manufacturer of products for the powder metal industry – the deal was immediately earnings-enhancing and Pell has already been integrated.

In its microfiltration business, revenues have jumped 10%, with particular strength in the aerospace market. Interim results due on 26 June should provide a useful opportunity for the fully listed firm to update on trading. We placed a buy recommendation on the shares at 104.5p in January, which looks to be a smart move given the outlook. Buy.

[battlebus2] 13/4/2012 14:07

Looking great shauney2 :))

[shauney2] 12/4/2012 19:06

Next resistance must be 125p.If we can get through that its into the 130s.Expect a retrace before that.The divi is not too far away.

[battlebus2] 12/4/2012 11:55

Looking good for an easy 120 :))

[battlebus2] 11/4/2012 12:13

Yes you've got to believe these can trade a lot higher over the months ahead. If the markets were better there would be a lot more buyers imv and sub sequentially a higher price.

[dolphinspirit] 11/4/2012 11:49

I totally agree with you Cheaky, This should be a nice little earner over time.

D

[cheaky monkey] 11/4/2012 11:06

Battlebus2 - I agree, a nice positive IMS especially the "profit before tax is ahead of management's expectations and the prior period" statement. The momentum is building here with the obvious dips along the way. A nice one to tuck away in the portfolio as I believe this will grow over time. DYOR

CM

[battlebus2] 11/4/2012 08:23

A very upbeat statement AGM Statement and Interim Management Statement

Porvair plc ("Porvair"), the specialist filtration and environmental technology group will today, 11 April 2012, make the following Interim Management Statement at its Annual General Meeting:

Porvair has made a good start to the 2012 financial year. In the four months to 31 March 2012, revenues are around 12% ahead of the same period in the prior year and profit before tax is ahead of management's expectations and the prior period. Order books have strengthened throughout the period and the outlook for the coming months is encouraging.

In the Metals Filtration division sales revenue was 15% higher than the same period in the prior year and margins continue to improve. Selee CS-X(TM) aluminium cast house filters have made further steady market share gains and sales of Selee IC(TM) iron foundry filters have benefited specifically from growth in the US automotive market. Sales from the plant in Wuhan, China, are ahead of the prior year. The products acquired with the acquisition of Pell Industries have been integrated into the existing facilities and initial shipments have been made.

In the Microfiltration division sales revenues were 10% ahead of the same period in the prior year. Revenue from aerospace grew by 22% and the order book strengthened throughout the period. Seal Analytical revenues are ahead of the prior year and the block digester product line acquired in December has already been integrated into the existing US operations.

The Company will be announcing its interim results for the six months ending 31 May 2012 on Tuesday 26 June 2012.

[battlebus2] 30/3/2012 16:20

Yep it can't be anything but positive imv.

[whymps2] 30/3/2012 15:50

Thanks Shauney2

[shauney2] 30/3/2012 14:28

From the horses mouth whymps.

April 11



Should give us more detail to the recent positive statement.

"Trading across the Group over the first quarter of the financial year has been good with revenues ahead of the prior year and order books continuing to grow"

[battlebus2] 30/3/2012 08:11

Lurkio mm's caught a few on that but back to 112 for 10k now.