5th Dec 2019 10:38
(Alliance News) - Porvair PLC said Thursday it expects to report annual revenue growth of 13% and earnings that are "slightly" ahead of expectations.
Porvair shares were up 4.8% in London at 608.00 pence each on Thursday.
In the pre-closing trading update for the financial year ended November 30, the filtration and environmental technology firm said it expects its revenue growth to be around 13%.
Meanwhile constant currency growth will be around 10%, driven by strong growth in the Aerospace & Industrial division.
Earnings for the year are estimated to be "slightly ahead" of expectations, the company said.
Porvair said its net cash on November 30 was GBP3.9 million, compared to GBP6.6 million a year ago, after capital and acquisition expenditure of approximately GBP14 million.
"Group order books for the start of the 2020 financial year are healthy," the company said.
In September, Porvair had said it had made "good progress" in the first nine months of its current financial year, achieving revenue growth of 15% with pretax profit in line with management expectations.
By Loreta Juodagalvyte; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Porvair