Porvair Plc (PRV.L), a filtration solutions provider, reported Monday higher profit in its fiscal 2024 with increased revenues. The company further lifted its dividend, and said it stays optimistic for the future.
For the year, profit before tax grew 4% to 9 million from last year's 20.1 million pounds.
Basic earnings per share grew 3% to 35.8 pence from 34.8 pence a year ago.
Adjusted profit before tax was 22.7 million pounds, compared to 21.4 million pounds last year.
Adjusted basic earnings per share were 38.6 pence, compared to 37.2 pence a year ago.
Revenue went up 9% to 192.6 million pounds from 176.0 million pounds last year. Revenues were 13% higher on a constant currency basis.
Further, the company's Board of Directors recommended final dividend of 4.2 pence, up from last year's 4.0 pence. The full year dividend is 6.3 pence, higher than 6.0 pence a year ago.
Looking ahead, Ben Stocks, Chief Executive, said, "Porvair delivered record revenue and profits in 2024, posting percentage revenue growth in line with its 20-year trading record... In the nearer term there is much to look forward to in 2025... 2025 will also be a year of management transition as I will retire as CEO and the new team of Hooman Caman Javvi and James Mills will take the Group forward and build on the strength of our model. The Board is optimistic for the future."
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