15th Sep 2015 06:47
LONDON (Alliance News) - Filtration and environmental technology group Porvair PLC on Tuesday said it has continued to trade well but said total revenue for the full year will be lower due to the non-recurrence of some major orders.
Porvair said its underlying revenue in the nine months to the end of August was up 9% year-on-year, but it said that, in line with previous guidance, its exceptionally high revenue last year will not be repeated due to some major orders that fell in 2014. As a result, total revenue for the first nine months is down 9%, while pretax profit is in line with its expectations, it said.
The group said underlying revenue excludes the sales generated from the large projects.
Microfiltration underlying revenue was up 13% in the first nine months, with progress towards commissioning major projects continuing, while Metals Filtration revenue was in line with its expectations, up 1% year-on-year.
By Sam Unsted; [email protected]; @SamUAtAlliance
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