Last checked at 2 Jun 2010 07:00
For immediate release 2 June 2010
Porvair plc ("Porvair" or "The Group")
Trading Update
Porvair, the specialist filtration and environmental technologies group, today issues the following trading update ahead of the publication of its interim results on 29 June 2010.
The Group has started 2010 well and expects to report interim results well ahead of 2009. Revenue growth in the first six months of the financial year is expected to exceed 10% at constant currency rates, reflecting a strong recovery in Metals Filtration and continued growth in most of Microfiltration's markets.
Metals Filtration division sales revenues have improved steadily since the lows of 2009. Recently introduced new products for the filtration of both aluminium and iron have increased operating margins which are also benefitting from a lower cost base than the prior year. As a result the profitability of this division is much improved.
The Microfiltration division's sales revenues are also showing growth. Key markets, notably aerospace filtration, are showing signs of recovery. The acquisitions of recent years: Seal Analytical, Toolturn and OmniFilter; are performing well. Current order books and prospective order pipelines in this division are healthy.
An analyst briefing will be held at 9.30 am at Buchanan Communications, 45 Moorfields, London, EC2Y 9AE on Tuesday, 29 June 2010.
For more information, contact:
| Porvair plc |
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| Ben Stocks, Chief Executive | 01553 765 500 |
| Chris Tyler, Group Finance Director | 01553 765 500 |
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| Buchanan Communications | 0207 466 5000 |
| Charles Ryland Catherine Breen |
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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. Its principal markets are aviation, energy and industrial process, environmental laboratories and non-ferrous metals.