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PRV Porvair Plc

0.00 (0.00%)
Last Updated: 09:20:16
Delayed by 15 minutes
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 Shares Traded Last Trade
  0.00 0.00% 636.00 324 09:20:16
Bid Price Offer Price High Price Low Price Open Price
622.00 640.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Chemicals & Chem Preps, Nec 176.01M 15.97M 0.3445 18.46 294.8M
Last Trade Time Trade Type Trade Size Trade Price Currency
09:13:46 O 324 635.60 GBX

Porvair (PRV) Latest News

Porvair (PRV) Discussions and Chat

Porvair Forums and Chat

Date Time Title Posts
04/5/202413:38Porvair thread with Charts1,358
30/3/201107:31Porvair - PRV - Press release > GREAT NEWS >1
17/4/200709:26Porvair a fuel cell play142
24/6/200420:11Good Porvair results this morning & now a director buying !77
15/7/200313:10Porvair Price keeps rising3

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Porvair (PRV) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-05-22 16:15:00636.009,00057,240.00O
2024-05-22 15:35:17636.007614,839.96UT
2024-05-22 15:29:59640.0029185.60AT
2024-05-22 15:28:01640.001383.20AT

Porvair (PRV) Top Chat Posts

Top Posts
Posted at 23/5/2024 09:20 by Porvair Daily Update
Porvair Plc is listed in the Chemicals & Chem Preps, Nec sector of the London Stock Exchange with ticker PRV. The last closing price for Porvair was 636p.
Porvair currently has 46,351,837 shares in issue. The market capitalisation of Porvair is £294,797,683.
Porvair has a price to earnings ratio (PE ratio) of 18.46.
This morning PRV shares opened at -
Posted at 09/12/2022 11:52 by kalai1
Porvair Plc issued a pre-close trading update for the year ended 30th November this morning. Revenue for is expected to be 18% higher than 2021 on a reported basis (13% at constant currency) with all three divisions ahead and margins sustained. Adjusted earnings per share are expected to be ahead of market forecasts – current market consensus is for EPS 27.8p – so there will be double digit EPS growth. The balance sheet remains strong with net cash at year end of £18.1 million. The outlook also looks solid with order books going into 2023 healthy and lead times returning to more normal levels. Valuation is a little unhelpful with forward PE ratio up near 19x and 3rd quartile for the Machinery, Equipment & Components sector. The share price also lacked some near-term momentum prior to today’s spike. PRV has steady growth and decent profitability, but it is a share to monitor for now...

...from WealthOracle
Posted at 13/9/2022 13:16 by partridge1948
As a manufacturer, PRV 9 month trading update reads well to me. They look to be coping admirably with the various challenges currently being faced, with all divisions performing well. Historic tendency to under promise and over deliver I hope will be maintained. Always dyor.
Posted at 01/2/2021 11:39 by trickyricky
Don't think results were that bad considering. I'd hope that the worse is behind them and that 2021 should see a recovery in the share price.
Posted at 17/8/2020 12:18 by partridge1948
Thanks for your kind comments. vprt - I think you are right to wait and see for the moment. Washbear - I like small/medium sized companies, preferably with significant director holdings, which generate cash and ideally have little or no debt. I tend to hold for many years, occasionally top slicing (or adding in period of weakness). Top five holdings have all been held for at least ten years, thankfully all in ISA, and are Treatt, Porvair,Learning Technologies, Anpario and RWS. I particularly like ANP at the moment and added more recently. Next tranche is Marshalls, James Latham, James Halstead, Halma and Croda (the latter two were much smaller when I first invested many years ago, but now in FTSE 100!) Big disadvantage is that if I wanted to sell all of any one company in the top five in one hit, it would be almost impossible. Spread on LTG and RWS is not bad, but PRV and ANP in particular are not heavily traded and spread can be very offputting if you have anything other than long term view. Fingers crossed for possible takeovers. I do get some wrong - held Photo-Me and Lloyds Bank for many years!
Posted at 16/8/2020 10:48 by partridge1948
vprt - Porvair has been a big holding for me for over 10 years and done me very well from the occasional sale, but it must be suffering at present. Approx half the revenues and even more of the profits are from the aerospace and industrial division, incorporating the struggling aviation and automotive sectors. Half year results to end of May included a couple of months of lockdown and were in my view surprisingly good, but share price has slid from over 780p end of January. Half year profits helped by release of some of the warranty provisions on several large gasification projects in the Far East - these have been profitable and continue to provide revenues from supply of spares as the projects mature. There are still some more provisions which might hopefully be released over the coming year or two to help offset lower revenues. Their foray into China is on the metal melt side and indication at the half year was that this is now moving into profit at last.No spares sales likely in the second half and I await the full year results with some unease. Difficult to know if fall in price last few months has now discounted this. Possible upside is that their expertise in filtration may find some more outlets in provision of product for fighting covid 19 - a small amount in the first half. The management has been of high quality, albeit rewarding themselves well and they have signalled that action will be taken as/when recessionary conditions affect them. Always thought that as a small,high quality engineer they might fall prey to US predator and I am happy to hold for the medium term, but short term might be bumpy! Always dyor.
Posted at 14/8/2020 09:10 by rangor
I'm guessing the negatives at the moment for PRV are exposure to the aviation industry, and connection with China. Both impacting the share price
Personally I think this company is run extremely well and will continue to grow.
Posted at 12/8/2020 17:13 by baldy45
I have held this company from when they were sub £1. Am having trouble understanding what is going on at the moment.

Interims in July were positive even though they were issued during the height of the lock down.

It has been a steady drop over the last couple of months. Day trading has been swings of 6 to 8% in stock price with the end of trading price at the same or lower than the start. According to ADVFN trade numbers today there were 47K buys against 9K sells and still the price goes down, what is going on?
Posted at 04/2/2020 14:58 by leading
I am out. The share price has had a great run, but looks toppy to me.

Trailing P/E of 32 feels high to me, though it doesn't seem out of line with the sector. Yield of 0.64% at these elevated prices is modest. I am not sure the steady but unspectacular growth justifies such a high rating.

I also have concerns about the results and the spin management are putting on them. Its all about steady as she goes, we haven't changed our approach since 2004 etc. and sounds complacent.

Specifically, they have problems in China. This operation is taking forever to get going and has been and continues to be serially loss making. Apparently it is based in Wuhan and is currently closed down, so I guess at least another couple of years until profitability may be reached here.

Also, what is going on with the gasification projects? These are being commissioned, a process which is going to take several years according to the company, which sounds a bit odd. I don't think these projects are working properly yet or that the company has a solution and there may be more bad news to come.

Look at note 13. Contingent liabilities. The company provided a performance bond for $930,000 which was called in December 2019 (after the year end). i.e. PRV did not perform and their bank have had to pay this amount to the customer. PRV will have indemnified and will therefore have a cash outflow for this item right at the start of the current financial year. That's not so pretty.

The note goes on to say that the maximum unprovided exposure relating to the gasification projects is £11.5m. That's a year's worth of profits for the company. Yes, its only a contingent liability, but we know there are problems here. Perhaps they could have provided some more clarity on this matter rather than hiding it in the notes. They also refer to note 9, so lets have a look at that.

Note 9 Provisions. There is an opening warranty provision of £506k. Next item is "Recognised on adoption of IFRS 15" a charge of £8,187k. To which you are meant to say, oh that's just the effect of a new IFRS, nothing to see here. Not so fast. Look at note 15, near the end. The warranty provision would have increased under the old accounting treatment from £506k to £6,609k. The remaining £2,917k only is attributable to IFRS 15. So, the company has identified and charged to P&L £6.1m worth of problems in the year. They have done well to hide it! No doubt that explains the dreadful margin performance in the industrial division which barely receives any comment.

So, maybe I have misinterpreted or misunderstood things in the results announcement, but I am here to be shot down. I have concerns with these results and that is why I have sold my holding today in anticipation of buying back at a lower price when there is more clarity on the issues above.
Posted at 03/2/2020 10:08 by tratante
Another set of excellent results from prv. What a well run company looks like. Despite getting little attention on these boards, it clearly has a lot of future opportunities given it's excellent environmental credentials.
Posted at 19/9/2019 18:34 by partridge1948
Patience needed. Solid performance over last 10 years gradually reflected in enhanced share price, but illiquid and small volumes can have disproportionate effect. PRV has imo tended to under promise and over deliver. Not many small quality engineering businesses have escaped US predators. Mine locked away in the ISA, but always dyor.
Porvair share price data is direct from the London Stock Exchange

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