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PORVAIR
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Company Information - 26th March 2009
History
Porvair was acquired via a management buyout from United Technologies Corporation in 1982. They were listed on the main market of the LSE in 1992.
The group provide filtration solutions to the aerospace, pharmaceutical, inkjet and general industrial markets. They design and manufacture specialist filtration and separation equipment serving markets in aviation, molten metal, clean energy, clean water and life sciences.
They recently (2008) acquired Seal Analytics who manufacture high quality discrete and continuous flow analysers. They are market leaders in the environmental laboratory analyser market.
Aims
Porvair has and is developing technology where superior returns are achievable by specialist design and engineering skills. These returns are further helped by:
- Protection by Regulation, Quality Accreditation and Application Skills.
- Products being consumable and being part of customers regular maintenance schedules.
- Porvair have been making strategic acquisitions to enhance their existing technology.
Porvair have a strong balance sheet, they are cash generative and are sustaining a progressive dividend policy.
Interim highlights (2008)
Revenue up 12% to £25.6m
Profit before tax up 32% to £1.9m
Earnings per share up 28% to 3.2p
Dividend per share 2.2p (2.1p)
Market capitalisation £22.13m
Yield 4.18%
P/E ratio 7.51
Year High/low (2008) 72p/45.8p
Current price 51-53p
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