REG - Porvair PLC - AGM Trading Update

PorvairAnnouncement

20/04/2021 07:00

RNS Number : 9522V
  
Porvair PLC
  
20 April 2021
  
 

FOR IMMEDIATE RELEASE                                                                              20 April 2021
 
 
 Porvair plc
 
AGM Trading Update
 
Porvair plc ("Porvair" or "the Group"), the specialist filtration and environmental technology group, will make the following trading update today at its Annual General Meeting:
In the four months ended 31 March 2021, the Group has performed better than management expected at the time of the preliminary results in February 2021, with revenue 6% lower (4% in constant currency) than the comparative period in the last financial year.
While aerospace activity remained subdued, other parts of the business started to see stronger demand.  Revenue in the first four months of this financial year was 12.5% ahead (at constant currency) of the final four months of the 2020 financial year.  Management is encouraged that adjusted operating profit for the first four months is in line with a strong 2020 comparator. 
Looking ahead, the Aerospace & Industrial division is still suffering from lower aerospace demand, although recent order intake suggests that activity may pick up in the second half.  The Laboratory division has started the year strongly, helped by Covid-19 related activities. The Metal Melt Quality division is benefitting from a reduced cost base and an improving performance in China. Demand in the last few weeks has been stronger in the US.
The Group will announce its interim results for the six months ending 31 May 2021 on Monday 5 July 2021.
 
For further information, please contact:
 




Porvair plc


01553 765 500




Ben Stocks, Chief Executive


 




Chris Tyler, Group Finance Director


 




 


 




Buchanan Communications


0207 466 5000




Charles Ryland / Steph Watson


 




 
Notes to Editors:
Porvair is a group of specialist filtration, separation, laboratory and environmental technologies businesses.  Its products are used in a range of niche filtration and separation markets and are derived from its expertise in the design and manufacture of filtration and separation systems.  It is organised into three divisions: Aerospace & Industrial; Laboratory; and Metal Melt Quality.
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
TSTEAKLNFSDFEFA