Share Name Share Symbol Market Type Share ISIN Share Description
Porvair Plc LSE:PRV London Ordinary Share GB0006963689 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -12.00 -2.24% 524.00 500.00 510.00 502.00 502.00 502.00 1,750 16:35:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 144.9 14.0 23.6 22.2 241

Porvair PLC Nine months trading update

22/09/2020 7:00am

UK Regulatory (RNS & others)

Porvair (LSE:PRV)
Historical Stock Chart

From Aug 2020 to Oct 2020

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RNS Number : 6461Z

Porvair PLC

22 September 2020

For immediate release

22 September 2020

Porvair plc

("Porvair" or the " Group")

Nine months trading update

Porvair, the specialist filtration and environmental technologies group, today issues a trading update for the nine months ended 31 August 2020.

Revenue for the nine-month period was 2.5% lower than the same period in 2019 (2.2% at constant currency (1) ) despite the Covid-19 landscape. The Group remains profitable and cash generative.

Order books are showing year-on-year declines in the Aerospace & Industrial and Metal Melt Quality divisions, where costs have been cut commensurately. Orders in the Laboratory division for the balance of 2020 and into 2021 are sharply higher.

Investment continues in skills, manufacturing capability, margin enhancement and new product development projects that will strengthen the Group as business activity improves.

At 31 August 2020, the Group had GBP0.4 million (31 August 2019: GBP0.1 million) of net cash(2) , after investing GBP3.6 million in acquisition payments and capital expenditure in the period and paying GBP2.3 million in dividends to shareholders in June and August 2020.

Note (1) Constant currency revenue: Revenue arising if overseas subsidiaries results had been translated at constant exchange rates in 2019 and 2020.

   Note (2)   net cash excludes GBP14.0 million of lease obligations. 

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 / Stephanie 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. It operates in three divisions: Aerospace & Industrial; Laboratory; and Metal Melt Quality.

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(END) Dow Jones Newswires

September 22, 2020 02:00 ET (06:00 GMT)

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