Porvair annual pre-tax profit rises 16%; company boosts dividend
Source - SMW
Filtration and environmental technology group Porvair boosted its annual profit by 16% after acquisitions helped buoy revenue.
The company posted a pre-tax profit of £11.7m, up from £10.1m in 2016. Revenue rose by 6% to £116.4m.
Porvair declared a final dividend of 2.7p per share, up 12.5% on the previous year.
'The group has started 2018 with a healthy order position and is trading well,' chief executive Ben Stocks said.
'Investments in capacity and manufacturing capabilities have continued throughout 2017 and will allow for further growth.'
'JG Finneran Associates, acquired in April 2017, is performing ahead of our expectations and Rohasys, acquired in December 2017, is a good strategic fit and has started well.'
'The group remains in a strong financial position and a promising start has been made to the current financial year.'