1st Jul 2024 11:57
Porvair PLC - King's Lynn, England-based environmental and specialist filtration technology company - In the six months ended May 31, revenue rises to GBP94.6 million from GBP90.6 million a year earlier. However, pretax profit falls to GBP11.5 million from GBP11.8 million. Says finance costs increased to 1.0 million from GBP437,000. Pays out interim dividend of 2.1 pence, down from 2.0p.
"2024 is unfolding as expected. Over the first six months, strength in aerospace and petrochemical markets, helped by the benefit of 2024 acquisitions, has offset weakness in industrial and laboratory consumables and foreign exchange headwinds. This has been in line with management expectations," says Chief Executive Ben Stocks.
"The trading outlook for the second half of the year is positive. Order books across the Group are strengthening with lead times now returned to more traditional levels. The benefits of the 2023 acquisitions continue to come through, and several larger petrochemical orders will start to ship towards the end of the year."
Current stock price: 644.08 pence, down 2.4% in London on Monday morning
12-month change: up 0.6%
By Sophie Rose, Alliance News senior reporter
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