Porvair (PRV) H2 2025 earnings summary

Executive summary

• Achieved record revenue, profit, and margin for the year ending November 30, 2025, with consistent growth over 5, 10, and 15 years and strong cash generation.

• Strategic review completed, new executive committee established, and M&A pipeline actively managed, including the acquisition of Drache post-period end.

• Continued investment in people, talent development, and ESG initiatives, with significant progress on carbon intensity reduction.

Financial highlights

• Group revenue reached GBP 194 million, up 1% year-over-year (2% at constant currency); adjusted operating profit rose 7% to GBP 26.2 million.

• Adjusted operating margin improved by 80 bps to 13.5%; adjusted basic EPS increased 10% to 42.3p.

• Net cash at year-end was GBP 22.9 million, a 67% increase from the prior year, after GBP 7.7 million CapEx.

• Cash generated from operations was GBP 29.2 million; board recommends a 7% increase in final dividend to 4.5p.

Outlook and guidance

• Anticipates contributions from Drache acquisition and new product launches in 2026, with continued investment in product development.

• Expects robust demand in aluminum filtration and recovery in industrial consumables, with no change to long-term demand drivers.

• Ongoing investment in manufacturing and organic/inorganic growth amid macroeconomic uncertainty.