Business
Preliminary Results and Board Changes
Preliminary Results and Board Changes.
About this update from Porvair Plc
[{"type":"text","content":"\n \nRNS Number : 6573B Porvair PLC 03 February 2020 \n\nFor immediate release 3 February 2020\n \n \nResults for the year ended 30 November 2019\nBoard changes\n \nRecord revenue and profit before tax, and strong cash generation\nPorvair plc (\"Porvair\" or \"the Group\"), the specialist filtration and environmental technology group, today announces its results for the year ended 30 November 2019.\nHighlights\n· Record revenue was up 13% to £144.9 million (2018: £128.8 million), 10% on a constant currency basis*.\n· Profit before tax was up 16% to a record £14.0 million (2018: £12.0 million).\n· Adjusted profit before tax* was up 9% to £14.8 million (2018: £13.5 million).\n· Basic earnings per share were up 7% to 23.6 pence (2018: 22.1 pence) per share. \n· Adjusted basic earnings per share* up 10% to 25.3 pence (2018: 22.9 pence) per share.\n· Net cash was £4.0 million (2018: £6.6 million) at 30 November 2019 after £14.1 million (2018: £13.5 million) invested in acquisitions and capital expenditure.\n· Recommended final dividend of 3.2 pence (2018: 3.0 pence) per share, an increase of 7%.\n· Dahlman Industrial Group B.V. (\"Royal Dahlman\") was acquired for £7.0 million in September 2019 and traded in line with expectations in its first quarter.\n \nCommenting on the outlook, Ben Stocks, Chief Executive, said:\n \n\"These results demonstrate the benefits of Porvair's strategy. Some segments have grown in 2019, others have maintained momentum through operational improvements. 2020 is l...