Business
Half Yearly Results
Half Yearly Results.
About this update from Porvair Plc
[{"type":"text","content":"\n \nRNS Number : 3102S Porvair PLC 25 June 2018 \n\nFor immediate release 25 June 2018\n \nPorvair plc\nHalf yearly results for the six months ended 31 May 2018\nContinued growth and earnings momentum\n \nPorvair plc (\"Porvair\" or \"the Group\"), the specialist filtration and environmental technology group, today announces its half yearly results for the six months ended 31 May 2018.\n \n \n \nHighlights:\n· Revenue up 7% to £59.7 million (2017: £55.5 million), 12% on a constant currency basis*.\n· Profit before tax up 8% to £5.2 million (2017: £4.9 million).\n· Basic earnings per share were 10.7p (2017: 8.3 pence). Basic earnings per share before an exceptional income tax credit were up 8% to 9.0 pence (2017: 8.3 pence).\n· Net cash was £2.2 million (31 May 2017: £4.0 million; 30 November 2017: £9.8 million) after investing £7.0 million on acquisitions and capital expenditure.\n· Rohasys BV and Keystone Filter were acquired; both are performing as expected.\n· Interim dividend increased 7% to 1.6 pence per share (2017: 1.5 pence).\nCommenting on the outlook, Ben Stocks, Chief Executive, said:\n\"Porvair traded well in the first half of 2018, with a healthy order book for the second half and robust levels of activity. The business is achieving further organic growth through incremental new product introductions and continues to expand manufacturing capacity to meet demand. We expect to integrate our two first half acquisitions in the balance of the financial year, with both bringing ...