Porvair (AIM:PRV) PLC reported higher profits and revenue in the first half, but said it expects supply chain issues and inflationary pressures to continue throughout 2022.
The filtration, laboratory and environmental technology company said revenue increased 18% to £82.3mln for the six months to end-May, while operating profit grew 9% to £10.1mln.
Its net cash position almost doubled to £12.2mln at the end of May from the year earlier.
"This is a record set of interim results with growth in all three divisions, showing that the group is performing well and has managed wide-spread supply dislocation and inflationary pressures satisfactorily thus far,” said chief executive Ben Stocks.
He said the focus for the coming months will be on margins.
“The group will continue to pass on cost increases where necessary and has accelerated investments in productivity,” he said.
“2022 has started strongly and provided economic conditions allow the outlook for the balance of the year is promising."
Longer-term, the company said it remains well-positioned to address global trends, such as tightening environmental regulation.