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Porvair: nine-month revenues up 8%

Filtration specialist Porvair plc has seen revenues rise 8% in the nine month period ended 31 August 2017.

In a trading update, Porvair said profit before tax for the nine month period was ahead of management’s expectations.

Underlying revenue, which is revenue at constant currency excluding the impact of large projects, was up 13% on last year, with Aerospace, US industrial, Seal Analytical and Aluminium filtration continuing to perform well.

The integration of J G Finneran Associates Inc is on track, with the recently acquired business contributing 5% to Porvair’s underlying revenue growth.

The company’s progress towards commissioning large projects continues, with little revenue recognised, as expected.

Porvair says that order books for the fourth quarter are healthy across the group.

Net cash at 31 August 2017 was close to £4 million, down from £6 million a year earlier.