Porvair Shares Gain as Profit Rises on Record Results

Porvair (LON: PRV) saw its shares climb early on Monday following the release of its full-year results for the period ended November 30, 2025.

The specialist filtration, laboratory, and environmental technology group reported record revenue, profit, and margin, exceeding market expectations and fueling investor optimism.

Revenue reached £194.0 million, a 1% increase year-over-year (2% on a constant currency basis). Adjusted operating profit jumped 7% to £26.2 million, resulting in an improved adjusted operating margin of 13.5%, up 80 basis points from the previous year. Adjusted profit before tax climbed 11% to £25.1 million, with adjusted basic earnings per share increasing by 10% to 42.3p.

Cash generation from operations was strong at £29.2 million, a 14% improvement. Closing cash stood at £22.9 million, significantly higher than the £13.7 million reported in the prior year, even after capital expenditure investments of £7.7 million. The company also declared a recommended final dividend of 4.5 pence, bringing the full-year dividend to 6.7 pence, an increase from 6.3 pence in 2024, signaling confidence in future performance and rewarding shareholders.

The robust performance allows Porvair to continue investing in growth initiatives. Post period end, the Group announced the acquisition of Drache Umwelttechnik GmbH (“Drache”) on 12 January 2026. A Capital Markets Event is scheduled for the second half of FY2026, where further strategic details are anticipated.

Driver Breakdown:

• Margin Expansion: Progress across all three divisions contributed to the improved operating margin.
• Aerospace Recovery: Increased demand in the aerospace sector during the second half of the year boosted revenue.
• Strong Cash Flow: Effective cash management and operational efficiencies drove higher cash generation.

Chief Executive Hooman Caman Javvi commented, “Porvair delivered record revenue, profit and margin in 2025, despite mixed trading conditions across our end markets…This performance demonstrates the resilience and quality of our business, together with agility in managing near-term macro-economic uncertainty.”

Porvair's management remains optimistic about the future, citing long-term fundamental demand drivers such as tightening environmental regulations, the growth of analytical science, and the need for clean water. The company is also poised to benefit from the development of carbon-efficient transportation and the drive for manufacturing process quality and efficiency.

The company anticipates a positive 2026, with plans to integrate Drache, introduce new products in key sectors, and install a new manufacturing line for aluminium filtration. The Board remains committed to a strategy of organic and inorganic growth, signaling a proactive approach to market opportunities.