Proactive Investors - Run By Investors For Investors

Investors plough into Porvair after upgrade to earnings guidance

Solid performances in all of its divisions means earnings for the year just gone will be better than management had expected
Porvair makes filtration systems for various industries, such as aerospace, food and pharma

Analysts have upped their annual profit forecasts for Porvair PLC (LON:PRV) after the filter maker revealed revenues rose 10% in the year just gone.

The aerospace and industrial division, which makes more than 150 different filters found on planes, was the main growth driver, with sales rising 18% in the year ended November 30.

READ: Porvair gets a boost as Shore Capital starts coverage with ‘buy’ rating and implied fair value of 540p

Solid performances in the laboratory and metal melt quality divisions mean earnings for the year are now forecast to be ahead of management’s expectations.

Analysts at Peel Hunt had expected the company to turn a pre-tax profit of £12.0mln but has now upped that to £12.3mln.

As for the outlook, Porvair told investors that group order books for the start of the new year are “healthy”.

Shares rose 6.5% to 436.7p in early deals on Friday.

View full PRV profile View Profile

Porvair Timeline

Related Articles

April 29 2019
Tidal, waste-to-energy and hydropower are all set to be part of the portfolio
wind farms
May 02 2019
Shares just below an all-time high with a prospective dividend yield of 5%
double decker bus
May 13 2019
Here we take a closer look at Ceres Power PLC (LON:CWR), which is commercialising a revolutionary fuel cell technology

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use