Business
AGM/Interim Management Stmt
AGM/Interim Management Stmt.
About this update from Porvair Plc
[{"type":"text","content":"\n RNS Number : 2397Q Porvair PLC 07 April 2009 \n \nFor immediate release 7 April 2009\n\nPorvair plc ('Porvair' or 'The Group')\nAGM Statement and Interim Management Statement\nPorvair, the specialist filtration and environmental technology group will today make the following interim management statement at its Annual General Meeting:\nIn the four months ended 31 March 2009 the Group's UK and European operations have continued to trade well. Over the same period trading in the US has deteriorated. Cash generation across the Group has been in line with expectations. \nThe Microfiltration division, based in the UK and Europe, is trading well with the order book supported by account wins, new project work and currency benefits. Energy filtration is having a very good year with gasification and nuclear remediation demand strong. Some Aviation schedules have weakened, notably in regional and corporate jets, but new projects have made up for any shortfall in overall demand. New products have been launched in bioscience filtration. Current trading at Seal Analytical is encouraging with acquisition integration actions almost complete.\nTrading in the US has been more challenging. Sales in the Metals Filtration division fell around 15% early in the year, and a further 20% during the course of February and early March. In response employee numbers have been cut by 40% and salaries of remaining staff temporarily reduced. These actions will give...