Porvair PLC
LSE:PRV
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Porvair PLC
Porvair Plc engages in the development, design, and manufacture of specialist filtration and separation equipment. The company is headquartered in King'S Lynn, Norfolk and currently employs 912 full-time employees. The firm's operating divisions include Aerospace & Industria, Laboratory and Metal Melt Quality. The Aerospace & Industrial division designs and manufactures a broad range of specialist filtration equipment for application in aerospace and industrial applications. The company operates through its subsidiary, Porvair Filtration Group. Its Laboratory division designs and manufactures instruments and consumables for use in environmental and bioscience laboratories with a focus on water analysis instruments and sample preparation equipment. The company operates through its subsidiaries, Seal Analytical, Rohasys, Porvair Sciences and JG Finneran. Its Metal Melt Quality division designs and manufactures porous ceramic filters for the filtration of molten metals. The company operates through its subsidiary, Selee Corporation. The company owns Kbiosystems Limited that specialises in the design and manufacture of laboratory instruments.
Porvair Plc engages in the development, design, and manufacture of specialist filtration and separation equipment. The company is headquartered in King'S Lynn, Norfolk and currently employs 912 full-time employees. The firm's operating divisions include Aerospace & Industria, Laboratory and Metal Melt Quality. The Aerospace & Industrial division designs and manufactures a broad range of specialist filtration equipment for application in aerospace and industrial applications. The company operates through its subsidiary, Porvair Filtration Group. Its Laboratory division designs and manufactures instruments and consumables for use in environmental and bioscience laboratories with a focus on water analysis instruments and sample preparation equipment. The company operates through its subsidiaries, Seal Analytical, Rohasys, Porvair Sciences and JG Finneran. Its Metal Melt Quality division designs and manufactures porous ceramic filters for the filtration of molten metals. The company operates through its subsidiary, Selee Corporation. The company owns Kbiosystems Limited that specialises in the design and manufacture of laboratory instruments.
Record Results: Porvair reported record half-year results, with revenue up 18% and strong growth across all divisions.
Strong Orders: Order intake remains healthy, especially in aerospace and semiconductor, though management warns against complacency due to extended lead times.
Margins: Operating profit margin slightly decreased to 12.7%, with ongoing cost inflation pressures but pricing actions helping to offset these.
Cash & CapEx: Net cash increased to $12.2 million, and the company is stepping up investment in automation and productivity.
Progressive Dividend: Interim dividend was increased by 6%, maintaining Porvair's progressive dividend policy.
Outlook Cautious: While current trading remains strong, management is wary of recession risks and potential destocking impacts.
Laboratory Margins: Laboratory division margins remain high but are expected to normalize to 15–17% as COVID-related demand fades and cost pressures persist.
