Bright outlook for Porvair

Environmental technology group Porvair said 2013 had started well with revenue and profit in the last four months both ahead on the previous year.

Environmental technology group Porvair said 2013 had started well with revenue and profit in the last four months both ahead on the previous year.

The Norfolk based firm, which makes fuel and coolant filters for commercial aircraft such as the Airbus and Boeing models, said revenue was up 6% in the quarter to March 31st 2013 from the same period last year at constant currency. The group said pre-tax profit is also ahead of the prior year.

Porvair, which also makes filters used in water, molten metal and energy sectors, said the outlook for the coming months is encouraging.

Order books have strengthened with an £11m order from the UK government and a contract for gasification filtration with Reliance Industries in India. Work is already underway on both projects.

"In the last few days further modules have been ordered by Reliance Industries, increasing the scope for that project by a quarter," it said in a statement.

As previously announced, revenue from this work is expected to be spread over several years.

CJ

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