4th Jul 2022 10:17
Porvair PLC - Hampshire, England-based manufacturer focused on filtration and separation technology - Posts higher interim profit and revenue as it sees itself well positioned in the long-term, boosted by stricter environmental regulations. Pretax profit in the half-year that ended May 31 grows 7% to GBP9.5 million from GBP8.9 million a year ago. Revenue climbs 18% to GBP82.3 million from GBP69.7 million. Declares a slightly higher dividend of 1.9 pence per share versus 1.8p a year ago.
"Longer-term, Porvair remains well positioned to address global growth trends: tightening environmental regulations; growth in analytical science; the need for clean water; carbon-efficient transportation; the replacement of plastic and steel by aluminium; and the drive for manufacturing process quality and efficiency," Chief Executive Officer Ben Stocks says.
Stocks states that while the firm expects inflation and supply disruptions to stay for the rest of the year, "2022 has started strongly and provided economic conditions allow the outlook for the balance of the year is promising."
Current stock price: 577.10 pence, down 2.7% on Monday
12-month change: down 1.5%
By Tom Budszus; [email protected]
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