Porvair makes a strong start to 2010
Porvair plc, the specialist filtration and environmental technology group, says its profit before tax for the four months to 31 March 2010 is well ahead of the same period last year.
In an interim management statement presented at the company’s Annual General Meeting, Porvair said that revenues are around 5% up on a year ago, with recovery or continued growth in most markets offset by expected modest declines in aerospace filtration sales.
The Porvair Metals Filtration division’s sales revenues are 13% higher than the prior period. The Metals Filtration business has also improved its profitability due to a lower cost base following last year’s restructuring. Porvair reports that 85% of the division’s aluminium customers have now converted to the patented Selee CS-X filter, while in the iron foundry industry, the new patented Selee IC filter has been adopted by several automotive and agricultural machinery manufacturers in the US.
In the Porvair Microfiltration division, sales revenues are slightly ahead of last year. Porvair says that the division is seeing satisfactory levels of demand in energy and nuclear filtration where several larger orders are scheduled for delivery later in the year.