Porvair says trading outlook positive as profit climbs; ups dividend
Porvair PLC on Monday said it continued to monitor uncertainty and the tariff environment, as it posted a profit and revenue rise.
The Norfolk, England-based environmental and specialist filtration technology firm reported a pretax profit of £11.3 million in the six months that ended May 31, up 6.6% from £10.6 million the year before.
Revenue grew 3.3% to £97.7 million from £94.6 million. Other operating expenses increased 5.1% to £22.8 million from £21.7 million.
The firm declared an interim dividend of 2.2 pence per share, up 4.8% on-year from 2.1p.
‘Trading has been mixed across our end markets, with strength in certain industrial businesses and laboratory instruments, offsetting softness in aerospace and foundry together with foreign exchange headwinds,’ said Chief Executive Officer Hooman Caman Javvi.
‘Currently, the trading outlook for the second half of the year remains positive. We continue to monitor the near-term macro-economic uncertainty and tariff environment, noting that the group’s manufacturing footprint mainly serves local customers.’
He added: ‘The group’s fundamental demand drivers have not changed and Porvair remains well positioned to take advantage of tightening environmental regulation; the growth of analytical science; the need for clean water; the development of carbon-efficient transportation; the replacement of plastic and steel by aluminium; and the drive for manufacturing process quality and efficiency. It is these trends that have driven the group’s consistent longer-term trading record.’
Porvair shares fell 4.4% to 738.00 pence each on Monday afternoon in London.
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