Porvair flying high

And they have. Peel Hunt increased forecast for adjusted pre-tax profit in 2012 by 4 per cent to £5.6m, giving adjusted EPS of 8.9p (from £4.5m and 7.3p in 2011). And there's every chance the two-year upgrade cycle has further to run, especially given the ramp up of aircraft production at both Boeing and Airbus. Demand for Porvair's inerting filters fired aerospace revenue up 29 per cent, driving a double-digit increase at the microfiltration division to £21.3m and an 11 per cent rise in operating profit to £2.2m. Operational gearing, low gas prices and a trio of higher-margin patented products helped metals filtration, too, increasing sales by a fifth and doubling profit. And Porvair is half-way through tests on a new generation of filters for molten metals. Results, so far, are said to be encouraging.

Elsewhere, the three recent acquisitions are starting to chip in, but there's nothing new on the horizon, we're told. There's also an outside chance that some money from the $10m-$15m (£6.4m-9.6m) design contract with South Korea's POSCO will fall into this financial year.