Join Paul Scott & Graham Neary on weekdays in their search for value in small caps
Good morning, it's Paul here.
7-8am comments Porvair (LON:PRV)H1 results (6m to 31 May 2019) look strong;
Revenue up 21% to £72m
Adjusted EPS up 36% to 12.9p
Cashflow looks weak though, due to adverse working capital movements (inventories & debtors up, as you would expect from expansion, but trade creditors sharply down).
IFRS 15 has resulted in a large £8.2m provision for warranties being created.
Looks potentially interesting, so I'll take a closer look later today, in more detail.
Cake Box…
Let’s get you setup so you get the most out of our service
Brilliant - You've created a folio! Now let's add some stocks to it.
