In an interim management statement for the period from 24 June 2009 to 9 October 2009, Porvair said that the contribution from new products continues to grow, helping both sales and margins. Porvair is also seeing the benefits of the recent restructuring of its US operations and tight operational controls.
The Microfiltration division, which serves aviation, energy, clean water and industrial markets, is trading as expected. Several larger contracts, notably for new nuclear remediation installations, have been shipped in the period, with spares and consumable products to follow next year. These have contributed to robust recent trading. The Microfiltration division’s order book for the remainder of the year and into 2010 is satisfactory.
Selee Corp, the largest part of Porvair’s Metals Filtration division, underwent a major restructuring programme earlier this year in response to sharply falling markets. Since the second quarter Selee’s trading has been stable and has generated modest profits and cash in the period.