Specialist industrial technology group Porvair (LON:PRV) posted record revenue and profit for H1 2026. The group also confirmed its FY26 outlook, although factoring in recent acquisitions earnings could top forecasts.
Metals demand leads
King’s Lynn-based Porvair specialises in filtration, laboratory and environmental technology and serves the aerospace, industrial and life science sectors. It also designs and manufactures porous ceramic filters for the metals industry and is a world leader in the filtration of aluminium and super alloys.
For the six months to end-May, the group reported a 9% rise in revenue and a 10% rise in adjusted pre-tax profit. Aerospace and Industrial demand was 2% lower against a strong prior-year comparator, while Laboratory sales rose 3% on life sciences growth.
The stand-out performer during the half, however, was the Metals business which increased sales by 40%. Growth was driven by strong aluminium and superalloy demand plus the acquisition Germany’s Drache in January.
‘We continue to execute at pace and build momentum, with a sustained focus on operational excellence and driving performance across the business’, said CEO Hooman Caman Javvi.
Porvair has been a consistent performer over the last decade, knocking in low double-digit earnings growth year after year with very little volatility. In that respect, and in terms of its decentralised structure and the markets it serves, it resembles Halma (LON:HLMA).
Like Halma, Porvair shares are seldom cheap, and they currently trade around 20 times earnings in line with their historic average. That tends to be the price you pay for a well-managed company with a diversified portfolio and long-term growth drivers.
There was some weakness in petrochemicals and one or two industrial segments, but with the Middle East conflict over regional demand should return. Meanwhile, Drache is trading ahead of expectations and there is upside potential from its more recent acquisitions.
Read the press release here:
https://www.porvair.com/investors
