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Porvair (PRV) – Finals PTP: £3.4m (£3.1m) Divi: 1.2p (1.1p)

A restructuring programme early last year has resulted in a strong recovery for Porvair’s US Metals Filtration division, which posted record sales of $38.6 million. The UK Microfiltration division has benefited from last January’s acquisition of Omnifilter in the US, although the division’s overall performance was hampered by the weaker dollar, with sales marginally lower at £26.2 million.

Porvair announced the signing of an agreement to participate in a $2.5 million project for the gasification of lignite coals to produce liquid fuels, hydrogen, and power, as well as carbon dioxide for enhanced oil recovery. House broker Altium Securities has set a target price of 150p, well above the current 108.5p.

Shares says: Solid results with encouraging prospects.

by: Rachel Robson