StockMarketWire.com - Specialist filtration and environmental technology group Porvair posts pre-tax profits of £8.4m for the year to the end of November - 10% up on last time.

Revenue rose by 23% to a record £104.0m and basic earnings per share increased by 17% to 14.4p.

Strong trading enabled the group to invest £5.1m in capacity expansion projects and finish the year with £5.3m of net cash.

Demand from key markets was good. In Microfiltration, sales of industrial filters into the US grew 18%. Aerospace sales rose 7%, with nuclear and bioscience also well ahead of the prior year. Seal Analytical revenues grew 13%. Metals Filtration had a good year with revenue growth of 11% at constant currency, 6% reported.

Chief executive Ben Stocks said: "2014 finished well and order books going into 2015 are healthy with the fundamentals of the markets in which we 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."








At 1:52pm: [LON:PRV] Porvair PLC share price was +13.5p at 303.5p



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