2nd Jun 2016 07:25
LONDON (Alliance News) - Porvair PLC on Thursday said its order book looks healthy for its second half, while it expects interim profit to be in line with management expectations and ahead of the same period a year earlier.
Porvair, which develops filtration and environmental technologies, said it expects to report constant currency revenue growth of around 10% at its interim results on June 27, and said most of its markets had experienced "good demand".
Porvair said, for the six month period ended May 31, its interim profit will be in line with management expectations and will be ahead of the profit reported for the same period a year earlier. Profit was GBP4.2 million a year earlier.
During the first half of its year, Porvair bought TEM Filter Co business, which it said is currently performing well. Investments were also made in expanding the manufacturing facilities in both the US and the UK.
Net cash at May 31 was GBP7.0 million.
Shares in Porvair were up 0.9% at 324.97 pence on Thursday.
By Hannah Boland; [email protected]; @Hannaheboland
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