17th Sep 2013 09:36
LONDON (Alliance News) - Specialist filtration and environmental-technology firm Porvair PLC Tuesday said it is trading well, and revenue has increased 13% compared with the first nine months of 2012.
In an interim management statement, the company said pretax profit is ahead of current management expectations, and the full year is now also expected to be ahead.
Revenues in Porvair's Microfiltration division revenue are 24% ahead of the prior year, it said, helped UK government contracts, while its other markets, notably aerospace, have grown steadily.
Chand Eisenmann Metallurgical, acquired in June, has traded satisfactorily and has made its first contribution to group profits, Porvair added.
Net debt continues to be significantly lower than the prior period, it said.
Porvair shares were trading at 244.00 pence Tuesday morning, up 12.00 pence or 5.2%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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