July 23 2014 Latest news:
Shaun Lowthorpe, Business editor
Monday, June 23, 2014
King’s Lynn-based Porvair today reported a 27pc increase in pre-tax profits to £3.8m.
The filtration specialists noted that large contracts were “running smoothly and contributing significantly to revenue growth”. Revenues grew 32pc to £51m up from £38.6m in 2013, while in its metals filtration business the EDP Top100 firm said that market share from patented products was continuing to drive growth.
Ben Stocks, chief executive, said: “Porvair’s strategic direction and operating objectives are unchanged and continue to deliver good results.
“We focus on niche markets which have structural growth drivers. 2014 has started strongly, and order books are healthy across the Group. The revenue benefits of previously announced large contracts are showing through with underlying growth also healthy. We continue to invest in US and UK capacity expansion and new product development. There is considerable opportunity in the Porvair businesses. The Board’s outlook remains positive.”
Tesco ditched beleaguered chief executive Philip Clarke today as it recruited an outsider from consumer goods giant Unilever to try to restore its fortunes.