Specialist filtration business Porvair (PRV) announced that it expects to beat its full-year expectations, securing 13 per cent revenue growth, or 10 per cent on a constant currencies business. Porvair’s strong performance has been driven by gains in its aerospace and industrial division.
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Despite £14m of investment, Porvair’s net cash position will come in at £3.9m, ahead of house broker Peel Hunt’s forecast level of £1.8m.
Peel Hunt forecasts full-year 2019 adjusted pre-tax profits and earnings per share of £14.8m and 24.9p, rising to £15.1m and 25.5p in 2020.