Porvair 1H Pretax Profit GBP1.3M Vs Loss, Ups FY Profit Views

29th Jun 2010 08:06

LONDON (Dow Jones)--Porvair PLC (PRV.LN), a specialist filtration and environmental technology group said Tuesday, it made pretax profit of GBP1.3 million for the half year ended May 31, compared with loss of GBP0.6 million, and said profitability expectations for the full year results have been revised upwards. MAIN FACTS: -Revenue up 10% to GBP29.7 million versus GBP27.0 million -Cash generated from operations GBP1.9 million versus GBP2.0 million. -23% versus 13% of sales revenue attributable to next generation products -Interim dividend maintained at 1.0p per share -The Metals Filtration division has rebounded strongly from a difficult 2009 -Revenue in underlying currency up 24% -Improved margins from growing next generation product sales -Lower overheads following the completion of the 2009 restructuring. -Current levels of demand are steady and providing this continues the Group expects to maintain its strategic progress in the second half of the year. -By London Bureau, Dow Jones Newswires; Contact Razak Musah Baba; +44 (0)20 7842 9275; [email protected] (END) Dow Jones Newswires June 29, 2010 03:06 ET (07:06 GMT)