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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-4.00 | -0.65% | 608.00 | 600.00 | 620.00 | 630.00 | 618.00 | 620.00 | 9,315 | 16:35:20 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Chemicals & Chem Preps, Nec | 176.01M | 15.97M | 0.3445 | 17.94 | 286.45M |
TIDMPRV
RNS Number : 8153H
Porvair PLC
08 December 2020
For immediate release 8 December 2020
Porvair plc
Pre-close trading update
Porvair plc ("Porvair", "the Group" or "the Company"), the specialist filtration, laboratory and environmental technologies group, announces the following trading update ahead of its close period for the year ended 30 November 2020.
Pre close trading update
Priorities through 2020 have been to keep staff safe; adjust operations to changing levels of demand; and continue to invest for post-Covid economic recovery. Revenues for the year ended 30 November 2020 are expected to be 7% lower than 2019. Net cash at 30 November 2020 was GBP4.9 million (2019: GBP4.0 million) after capital investment of approximately GBP5.0 million and dividends of GBP2.3 million in the year. Adjusted operating profits are in line with management's expectations.
Current trading
As previously announced the Group's aerospace, molten metal and most industrial order books had reduced sharply through the middle of the year. Costs were adjusted and the Group will charge exceptional restructuring costs of around GBP2.0 million in the second half.
Since July order books have been building steadily from a lower base. The Group was consistently profitable and cash generative in the second half, and showed sequential growth between the third and fourth quarters. The economic outlook for aerospace and some industrial segments remains uncertain but orders for the first quarter of 2021 in the Laboratory division are strong. Investment in productivity, skills and new products have continued at pre-Covid levels throughout 2020.
Date of preliminary announcement
Porvair will announce its preliminary results for the year ended 30 November 2020 on Monday 1 February 2021.
Market Abuse Regime
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation. Upon the publication of this announcement via a regulatory information service, this inside information is now considered to be in the public domain.
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 / Steph Watson
Notes to editors
Porvair plc
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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December 08, 2020 02:00 ET (07:00 GMT)
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