Last checked at 28 Nov 2012 07:00
For immediate release 28 November 2012
Porvair plc ("Porvair")
Pre-close trading update
Porvair, the specialist filtration and environmental technologies group, makes the following announcement regarding trading for the year ended 30 November 2012 ahead of its close period.
Porvair traded well throughout the final quarter of 2012 and the Board expects to report results ahead of expectations for the year. Revenues for the full year, at constant exchange rates, are expected to be more than 10% higher than the prior year. As noted at the half year, some weakness in European and Chinese markets has been more than offset by strength elsewhere. In particular revenue from our aviation markets has grown strongly and the first contracted shipments on the POSCO contract have been made on time and in full in the final quarter. Seal Analytical has also had a good end to the year and will start the New Year with a strong opening order book.
£3.3m has been spent on acquisitions in the year, although strong operating cash flows have reduced net borrowings, which are expected to be around £4.0m.
Porvair will announce its preliminary results for the year ended 30 November 2012 on Monday 28 January 2013.
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 / Clare Akhurst |
Notes to editors
Porvair plc
Porvair is a group of specialist filtration and environmental technology businesses. Its products are used in a range of niche filtration markets, and are derived from its expertise in the design and manufacture of filtration systems using ceramic, metal, plastic and carbon media. Its Seal Analytical business is a market leader in the manufacture of laboratory based water analysis equipment.