Porvair said its Microfiltration unit has signed an 11.3m-pound deal with the UK Government for the construction of a nuclear remediation filtration system.
The unit of the specialist filtration and environmental technology group will design and manufacture the system with the financial impact of the contract to be spread over the next two to three years.
"Certain aspects of the project require further engineering and the precise timing of deliveries is yet to be determined," the company said in a statement.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Shares rose 4.74% to 166.00p following the announcement.
The news comes after the company reported strong sales in its last interim management statement with revenues 12% higher in the nine months leading to the end of August.
Porvair develops filtration and separation equipment in the UK, US, Germany and China.
RD
-
Which investment trusts could benefit from lower interest rates?As vehicles for long-term investments, many investment trusts were hit when interest rates rose in 2022. With interest rates expected to fall by the end of the year, could now be the time to invest in one of these unloved sectors?
-
How to protect your personal and financial data from cyber attacksM&S and the Co-op are the latest retailers to suffer from cyber hacks but consumers also need to be vigilant
