David BurrowsPorvair, the specialist filtration and environmental technologies group, reveals revenue growth for the year ended 30 November 2017 of 6%.
Underlying revenue) growth was 11% overall, with underlying revenue growth of 13% in the company’s microfiltration division and 1% in the metals filtration division.
Earnings for the year are forecast to be ahead of management's expectations.
Net cash at the 30 November 2017 was £9.7m (2016: £13.6m), after capital and acquisition expenditure of approximately £11m.
The board insisted that the group order books for the start of the 2018 financial year remain healthy.
Porvair also confirmed and gave more details on a recent acquisition. The new laboratory division, which will focus on filtration and sample preparation products, acquired Rohasys B.V., a Dutch company, on 7 December 2017.
This acquisition brings robotic sample handling expertise to the division, which will enhance the Group's growing bioscience sample preparation capabilities, the statement said.
Porvair’s share price jumped 8.91% in early morning trading to 490.12.