REG - Porvair PLC - AGM Trading Update & Board Update

PorvairAnnouncement

16/04/2024 07:00

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RNS Number : 6903K  Porvair PLC  16 April 2024

 

 

 

For immediate release
 
                         16 April 2024

Porvair plc ("Porvair" or the "Group")

 

AGM Trading Update

Board Update

Porvair plc, the specialist filtration, laboratory and environmental
technology group, will make the following trading statement at its Annual
General Meeting later today at 11:00 a.m.

At the time of the results statement in early February the Board noted its
optimism for 2024 and beyond, and this has not changed. Opportunities afforded
by recent acquisitions; strong order books in aerospace and petrochemical; and
new product introductions at Seal Analytical are all developing as planned.
De-stocking in laboratory markets is easing and lead times are returning to
more normal levels. Industrial consumable order patterns, while still weaker
than the prior year, are now also steadier, with several large orders,
including one for gasification spares, due to ship at the end of the year and
into 2025. As outlined in February, the Board expects a quieter first half of
2024 to be followed by a stronger second half, in line with market
expectations.

With the Group trading well, Ben Stocks has indicated his intention to retire
in early 2025 once a successor has been appointed and settled into the role.
The Nominations Committee has started a search both internally and externally
and will report progress as appropriate.

The Group will announce its interim results for the six months ending 31 May
2024 on Monday 1 July 2024.

 

For further information, please contact:

 

 Porvair plc
 Ben Stocks, Group Chief Executive    01553 765 500
 James Mills, Group Finance Director

 Buchanan Communications              020 7466 5000
 Charles Ryland / Stephanie Whitmore

 

Notes to Editors

Porvair is a group of specialist filtration, laboratory and environmental
technology businesses.  Its businesses design and manufacture a range of
bespoke consumable filtration products that are used in a range of niche
filtration markets. It operates in three divisions: Aerospace &
Industrial; Laboratory; and Metal Melt Quality.

 

 

 

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