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(Sharecast News) - Porvair reported record results for the year ended 30 November on Monday, with earnings and margins ahead of expectations despite mixed conditions across its end markets.
The London-listed firm said revenue rose 1% to 194m from 192.6m, or 2% on a constant currency basis, while adjusted operating profit increased 7% to 26.2m.
Its adjusted operating margin improved by 80 basis points to 13.5%, reflecting margin progress across all three divisions.
Adjusted profit before tax climbed 11% to 25.1m, and adjusted basic earnings per share rose 10% to 42.3p.
Cash generation strengthened over the period, with cash generated from operations rising 14% to 29.2m.
Closing cash stood at 22.9m, up from 13.7m a year earlier, after capital expenditure of 7.7m.
On a statutory basis, operating profit increased 7% to 24.5m and profit before tax rose 11% to 23.3m, while basic earnings per share advanced 10% to 39.3p.
The board recommended a final dividend of 4.5p, up from 4.2p, taking the full-year dividend to 6.7p compared with 6.3p in the prior year.
Following the period end, Porvair announced the acquisition of Drache Umwelttechnik in January and said it would hold a capital markets event in the second half of the 2026 financial year.
"Porvair delivered record revenue, profit and margin in 2025, despite mixed trading conditions across our end markets," said chief executive Hooman Caman Javvi.
"As expected, aerospace demand increased in the second half of the year, while petrochemical sales slowed, and industrials remained mixed.
"The laboratory end markets showed steady progress throughout the year, with environmental demand continuing to improve."
He added that the group overall delivered "another year of progress" despite economic uncertainty and end-market inconsistency.
"This performance demonstrates the resilience and quality of our business, together with agility in managing near-term macro-economic uncertainty."
Looking ahead, Javvi said long-term demand drivers remained intact, citing tightening environmental regulation, growth in analytical science, clean water needs and carbon-efficient transportation.
"In the near-term there is much to look forward to in 2026, including welcoming the team at Drache to the group; continuing to drive operational performance; new product introductions in aerospace, Seal Analytical and Porvair Life Sciences; the installation of our new manufacturing line for aluminium filtration; and industrial demand recovery.
"The board remains committed to a strategy of organic and inorganic growth and is optimistic about the future."
At 1050 GMT, shares in Porvair were up 0.43% at 863.69p.
Reporting by Josh White for Sharecast.com.