StockMarketWire.com - Porvair has booked a FY pretax profit of £8.4m, up 10% on the year. Revenue was up 23% to a record £104.0m. It recommended a final dividend of 2p a share, taking the FY to 3.2p a share, up 10%.

CEO Ben Stocks said 2014 finished well and order books going into 2015 were healthy with the fundamentals of the markets in which Porvair operate looking satisfactory.

"All key initiatives are progressing well and new product development pipelines are promising. Capacity investments made in 2014 and planned for 2015 will allow for growth. The Group has a strong balance sheet, a positive start has been made to the year and the Board looks forward with confidence."

Separately, Porvair announced it has secured spares orders with three of its gasification customers to provide filter elements to installations in the USA, India and Korea. In total the orders amount to additional revenue of $5.5m.

Stocks said: "We are pleased to have received initial commissioning spares orders in what we hope will become long term supply arrangements with POSCO of South Korea and Reliance in India to support their gasification installations.

"Our US customer will take delivery of a re-designed set of spares in 2015 that we expect to have a longer operating life. The new design is proprietary and will strengthen our position in this market."






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