London, July 7, 2026, 17:05 BST
- Porvair ended the London session quoted at 822p bid, 826p offered. Shares picked up 4p, or 0.49%, with 1.22 million shares traded.
- Deutsche Bank kicked off coverage with a Buy rating and set a 1,050p price target, nearly 28% higher than Monday’s 818p close.
- Porvair’s first-half sales were up £8.5 million. The Metal Melt Quality division brought in all of that increase, with the other two units basically flat once rounded.
Porvair plc LON:PRV shares closed higher Tuesday, after Deutsche Bank AG ETR:DBK started coverage at Buy. The stock ended the day quoted at 822p to sell and 826p to buy, up 4p, or 0.49%. Earlier in the session, Porvair traded as high as 834p in London, almost 2% up, after the broker note.
The broker’s 1,050p target is the main figure for the stock. That’s 28.4% above Monday’s 818p close and 14.1% higher than AJ Bell’s stated high for the year at 920p. With 46.50 million shares in issue per Hargreaves Lansdown, that difference is around £108 million in equity value.
| Market measure | Latest figure |
|---|---|
| Post-close sell/buy quote | 822p / 826p |
| Day change | up 4p, or 0.49% |
| Previous close | 818p |
| Volume | 1,220,115 shares |
| Deutsche Bank target | 1,050p |
| Implied upside vs previous close | 28.4% |
| Gap vs 920p year high | 14.1% |
| Equity-value gap vs Monday close | about £108 mln |
Deutsche Bank analyst Thomas Elgar started coverage on Porvair with a Buy rating, StreetInsider reported. According to Investing.com, which referenced a Deutsche Bank note, Elgar cited steady demand, replacement cycles, and Porvair’s buy-and-build strategy as drivers for long-term earnings growth.
Investors reacted to first-half results out last week. The numbers looked better on the bottom line than when you look at organic sales. Revenue climbed 9% to £106.2 million. But organic constant-currency revenue was up just 2%. Adjusted operating profit gained 10% to £13.8 million.
| H1 revenue | H1 2026 | H1 2025 | Change |
|---|---|---|---|
| Group | £106.2 mln | £97.7 mln | +9% |
| Aerospace & Industrial | £43.8 mln | £44.6 mln | -2% |
| Laboratory | £33.2 mln | £32.3 mln | +3% |
| Metal Melt Quality | £29.3 mln | £20.8 mln | +40% |
Porvair CEO Hooman Caman Javvi said the company posted “record revenue and profit in the first half”. Javvi said full-year guidance is “unchanged”, not counting the partial-year impact from GV Filtri and Carekem. Porvair
Aerospace & Industrial, which remains Porvair’s top revenue generator, was the laggard. Sales declined 2%. Adjusted operating margin dropped by 70 basis points to 13.9%. Petrochemical revenue came in around £7 million lower, off by about half, after the company pointed to weak conditions in Europe set to stick around through 2026. Aerospace sales climbed 8%. Nuclear demand was also up.
Metal Melt Quality delivered most of the revenue increase for the group. Sales climbed 40% to £29.3 million, with adjusted operating profit up 39% to £4.6 million. Porvair acquired Drache in January for €20.5 million; after closing, Drache brought in £7.3 million of revenue and £0.8 million in operating profit.
Cash told a different story. Net cash dropped to £7.1 million from £22.9 million at the end of 2025, hit by £21.2 million in capex and acquisitions. The board lifted the interim dividend by 9% to 2.4p per share. AJ Bell has the ex-dividend date as July 16, with payment set for Aug. 21.
Porvair has agreed to acquire GV Filtri in a €6.7 million deal, pending regulatory sign-off, and completed the £1.1 million purchase of Carekem in June. Porvair reported that GV posted about €5 million in revenue for 2025, while Carekem had £0.8 million for the twelve months to March 2026. Javvi said Drache is running “slightly ahead of expectations”. Porvair
Porvair has moved its planned Capital Markets Event in London to Oct. 14, shifting from Oct. 15 as previously announced.
