18th Sep 2019 11:38
(Alliance News) - Porvair PLC said Wednesday it has made "good progress" in the first nine months of its current financial year.
In the nine months ended August, the filtration and environmental technology firm achieved revenue growth of 15% with pretax profit in line with management expectations.
"Order books are healthy with order intake strong in the third quarter, notably in Aerospace & Industrial," Porvair added.
In the year to the end of November 2018, Porvair reported a pretax profit of GBP12.0 million on revenue of GBP128.8 million. In the first six months of the current financial year, the company recorded a pretax profit of GBP7.4 million on revenue of GBP72.0 million.
At August 31, Porvair held GBP100,000 in cash, compared to GBP2 million in credit at the same point the year before.
Shares in Porvair were 3.1% lower in London on Wednesday at 600.90 pence each.
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