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Porvair PLC - Hampshire, England-based manufacturer focused on filtration and separation technology - Says in trading update for nine months ended August 31 that it has ‘continued to trade satisfactorily’ in third quarter. Order intake across aerospace, petrochemical and water analysis markets ‘remains robust’. Porvair says de-stocking continues in industrial and laboratory consumables, but lead times have shown signs of returning to normal in recent weeks. Expects full-year earnings to be above those in the year ended November 30 2022, which included pretax profit increasing 26% to £18.7 million from £14.8 million in financial 2021, and revenue increasing 18% to £172.6 million from £146.3 million. Company adds that its long-term earnings record ‘is supported by established global trends’ including tightening environmental regulations and growing demand for cleaner water and carbon-efficient transportation. Current stock price: 600.00 pence, up 1.7% on Tuesday in London 12-month change: up 12% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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