REG - Porvair PLC - Nine Month Trading Update

PorvairAnnouncement

13/09/2022 07:01

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RNS Number : 1457Z  Porvair PLC  13 September 2022

For immediate release
 
13 September 2022

 

Porvair plc

Nine Month Trading Update

 

Porvair plc ("Porvair" or "the Group"), the specialist filtration, laboratory
and environmental technology group, announces the following trading update for
the nine months ended 31 August 2022.

 

The Group has performed well in the third quarter. All three divisions
continue to grow on a constant currency basis and margins have been sustained.
Laboratory, aluminium and most industrial filtration segments have continued
to be busy over the summer months and aerospace continues to recover well.

 

At this stage therefore the Group's FY22 performance is in line with market
expectations, supported by an aggregate order book that remains elevated -
although in recent weeks some segments have seen signs that lead times, and
thus order levels, are starting to return to more traditional levels.
Underlying drivers of demand for the Group's products remain in place:
 tightening environmental regulation; the growth in analytical science; clean
water regulation; the increased use of aluminium in electric vehicles and
recyclable packaging; and the drive to reduce waste in manufacturing
processes.

 

With half of Porvair's manufacturing in the US there is little direct exposure
to European gas prices. The Group is nevertheless mindful that the economic
environment is volatile and is therefore cautious in its outlook. Supply
dislocation, inflationary pressure and covid-related absences remain daily
operational challenges but thus far, Porvair companies have navigated these
well.

 

Ends

 

 

For further information please contact:

 Porvair plc                                        01553 765 500
 Ben Stocks, Chief Executive
 James Mills, Group Finance Director
 Buchanan Communications                            020 7466 5000
 Charles Ryland / Steph Whitmore / George Cleary

 

 

Notes to Editors

Porvair is a group of specialist filtration 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.  Its principal markets are aviation, energy and industrial process,
environmental laboratories and non-ferrous metals.

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