Porvair plc Recommends Final Dividend, Payable on June 6, 2014; to Announce Board Changes; Announces Consolidated Earnings Results for the Year Ended November 30, 2013
Michael Gatenby retired from the Board at the 2013 AGM in April. Andrew Walker will retire at the 2014 AGM, having been a director for nine years. They have both made a substantial contribution to the Group's direction and strategy during their time on the Board. Following the 2013 AGM, Andrew Walker succeeded Michael Gatenby as senior Non-Executive Director and Paul Dean succeeded him as Chairman of the Audit Committee. Paul Dean will succeed Andrew Walker as senior Non-Executive Director following the 2014 AGM.
The company announced consolidated earnings results for the year ended November 30, 2013. For the year, the company reported revenue of £84,267,000 against £76,455,000 a year ago. Operating profit was £8,641,000 against £7,205,000 a year ago. Profit before income tax was £7,848,000 against £6,299,000 a year ago. Profit for the year attributable to shareholders was £5,481,000 or 12.5 pence diluted per share against £4,282,000 or 9.9 pence basic and diluted per share a year ago. Net cash generated from operating activities was £9,744,000 against £7,407,000 a year ago. Purchase of property, plant and equipment was £1,831,000 against £1,780,000 a year ago. Purchase of intangible assets was £193,000 against £171,000 a year ago. Net debt was £3.9 million as on December 01, 2013.