14th Apr 2015 07:55
LONDON (Alliance News) - Filtration and environmental technology company Porvair PLC on Tuesday said it has made a good start to 2015 but said revenue for the year will be lower overall due to some large one-off projects in 2014 that are not recurring.
Porvair said its underlying revenue in the first quarter was up 6% year-on-year in the first half of its financial year so far, with underlying revenue in its Microfiltration business up 7% and new facilities in New Milton in the UK and Caribou in Maine in the US completed on time and on budget.
But the company said it expects revenue for the year to be around 4% lower overall year-on-year due to exceptionally high revenue from large projects completed in 2014 that are not repeating.
The group said its outlook is encouraging and its order book looks strong.
Porvair will publish its results for the first half to the end of May on June 29.
Shares in Porvair were down 0.6% to 300.90 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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