Posts in LSE:PRV

Porvair acquires Keystone Filter

Porvair, a filtration and environmental technologies group, has acquired Keystone Filter, a division of CECO Environmental Corp (CECO).

The group has acquired the goodwill, business and trading assets of Keystone for cash.

Keystone designs and manufactures a range of filter cartridges and housings for the food and beverage, drinking water, and chemical process markets in the US.

Keystone reported revenue of approximately $4 million in the year ended 31 December 2017.

Broker Forecast - Peel Hunt issues a broker note on Porvair PLC

Peel Hunt today reaffirms its buy investment rating on Porvair PLC (LON:PRV) and raised its price target to 580p (from 540p).

One double-bagger growth stock I’d buy before IGas Energy plc

Shares of shale gas hopeful IGas Energy (LSE:IGAS) have risen by 84% from a low of 49p in just over four months.

It's a strong comeback for a company that was forced into a painful refinancing in 2017. IGas now has backing from both chemicals giant INEOS and from oil and gas investor Kerogen Capital, which owns 28% of the group's shares after pumping £29m into last year's refinancing.

Porvair annual pre-tax profit rises 16%; company boosts dividend

Filtration and environmental technology group Porvair boosted its annual profit by 16% after acquisitions helped buoy revenue.

The company posted a pre-tax profit of £11.7m, up from £10.1m in 2016. Revenue rose by 6% to £116.4m.

Porvair declared a final dividend of 2.7p per share, up 12.5% on the previous year.

'The group has started 2018 with a healthy order position and is trading well,' chief executive Ben Stocks said.

2 high-growth stocks that are just getting started

If you were brave enough to have invested in 2009 following the dark days of the last financial crisis, then you'll have benefitted a lot from the subsequent stock market bull run that will soon be in its ninth year. So does that mean we should now wait until the next big crash before buying? Absolutely not - that would be a very foolish strategy based on fear alone.

Two opportunities to make you a million?

Over the past year, shares in Numis Corporation (LSE:NUM) have smashed the market returning 27%, excluding dividends, against the FTSE 100 return of 7.7%. At the time of writing, the shares currently support a dividend yield of 4%, so after including this distribution, the return for the year will likely exceed 30%. 

But can this financial services business continue on its current trajectory? 

Dip in sterling and strong performance from housebuilders boost FTSE

Sterling weakened as investors turned negative on the UK's ability to secure strong trading conditions with the European Union when it leaves in 2019.

This worked in favour of the FTSE 100 as blue-chip companies generate the majority of earnings overseas.

Strong results from housebuilder Berkeley (BKG) also contributed, prompting a rally in the housebuilding sector.

Berkeley revealed pre-tax profit rose 35.8% to £533.3m and sales increased 13.7% to £1.6bn in the six months to 31 October.

FTSE boosted by housebuilders rally

The FTSE 100 traded 0.3% higher at 7,346 as strong results from housebuilder Berkeley (BKG) and progress on Brexit spurred a rally in the sector.

Berkeley revealed pre-tax profit rose 35.8% to £533.3m and sales increased 13.7% to £1.6bn in the six months to 31 October.

Barratt Developments (BDEV), Taylor Wimpey and Persimmon (PSN) chased their peer higher by up to 4.3%.

Sterling gained positive momentum after the UK and European Union made sufficient progress in the Brexit talks to move on to negotiating trade conditions.

Construction contracted by 0.9% in the UK between July a

Porvair upgrades guidance

Filtration and environmental technology group Porvair said earnings for the year are expected to be ahead of its expectations.

Revenue growth for the year through November was 6%, with underlying growth of 11%, mostly driven by the microfiltration division, the company said.

Net cash at November 30 was was £9.7m, down from £13.6m, after capital and acquisition expenditure of around £11m.

Could these ‘secret’ stocks make you stunningly rich?

HSS Hire Group (LSE:HSS) was firing higher on Thursday after it released fresh details on how it intends to turn around its struggling fortunes. It was last 13% higher on the day

HSS advised that it had identified a further £10m to £14m worth of savings as part of its ongoing cost-cutting drive, adding to the £13m of annualised savings the company has already found.