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Porvair FY earnings seen 'slightly ahead' of management expectations
5th Dec 2019 09:56
(Sharecast News) - Filtration and environmental technology group Porvair said on Thursday that full-year earnings were set to be "slightly ahead" of management's expectations thanks to a strong performance from its aerospace and industrial segment.
Revenue for the year to 30 November is expected to be up around 13%, with constant currency revenue growth of 10%, driven by "strong" growth from the aerospace and industrial division.
"Earnings for the year are forecast to be slightly ahead of management's expectations," Porvair said.
Net cash at the end of November stood at £3.9m compared to £6.6m in 2018, after capital and acquisition expenditure of about £14m, and the group order books for the start of the 2020 financial year are "healthy", it said.
At 0955 GMT, the shares were up 5.2% at 610p.
Revenue for the year to 30 November is expected to be up around 13%, with constant currency revenue growth of 10%, driven by "strong" growth from the aerospace and industrial division.
"Earnings for the year are forecast to be slightly ahead of management's expectations," Porvair said.
Net cash at the end of November stood at £3.9m compared to £6.6m in 2018, after capital and acquisition expenditure of about £14m, and the group order books for the start of the 2020 financial year are "healthy", it said.
At 0955 GMT, the shares were up 5.2% at 610p.