REG - Porvair PLC - Trading Update-Ahead of Expectations

PorvairAnnouncement

04/10/2022 07:00

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RNS Number : 5963B  Porvair PLC  04 October 2022

For immediate release
                                                                                              4
October 2022

 

Porvair plc

 

Trading Update-Ahead of Expectations

 

Further to the announcement made on 13 September 2022, Porvair plc ("the
Group") announces that following a strong start to the final quarter, Final
Results for the 12 months ended 30 November 2022 are likely to be ahead of
market expectations.

 

All three divisions are expected to show growth at a constant currency level
at sustained margins, and statutory numbers will also benefit from foreign
exchange translation in 2022.  Underlying drivers of demand for the Group's
products remain in place: tightening environmental regulation; the growth of
analytical science; clean water regulation; the use of aluminium in electric
vehicles and recyclable packaging; and the drive to reduce waste in
manufacturing. The Group expects to move into 2023 with a strong balance sheet
showing positive net cash.

 

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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