Business
Half yearly results
Half yearly results.
About this update from Porvair Plc
[{"type":"text","content":"\n \nRNS Number : 2712C Porvair PLC 27 June 2016 \n\nFor immediate release 27 June 2016\n \nPorvair plc\nHalf yearly results for the six months ended 31 May 2016\nStrong positive 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 2016.\n \nHighlights\n· Encouraging financial progress:\no Revenue up 13% to £52.1 million (2015: £46.3 million). Constant currency revenue growth was 10%.\no Profit before tax up 7% to £4.5 million (2015: £4.2 million).\no Basic earnings per share up 9% to 7.5 pence (2015: 6.9 pence).\no Net cash was £7.2 million (31 May 2015: £6.2 million; 30 November 2015: £10.7 million).\no Acquisition of TEM for £3.4m, £2.9 million paid in the period.\no Capital investment of £2.7 million in the period.\n· Microfiltration:\no Revenue up 15%. \no Aerospace revenue up 14%.\no Large contracts progressing smoothly - POSCO contract is largely commissioned. \no TEM has performed well since acquisition.\no New facility in USA opened on schedule and to budget.\no Indian joint venture with Mascot Dynamics signed.\no Order book healthy.\n· Metals Filtration: \no Revenues up 7% (4% lower in constant currency).\no New facility in China performing well and has delivered its first filters for molten aluminium.\no Exclusive multi-year contract with Alcoa renewed.\n· Interim dividend increased 8% to 1.4 pence per ...