LONDON (ShareCast) - Filter company Porvair (LSE: PRV.L - news) said sales levels have been stable since the second quarter following
restructuring at its US operations.
"The benefits of restructuring US operations and tight operational control have been apparent. The contribution from new products continues to grow, helping both sales and margins."
The group said trading at its Microfiltration division, which serves aviation, energy, clean water and industrial markets, is as expected.
Its Selee Corp unit, which underwent significant restructuring amid falling markets, has also seen trading stabilise and has generated modest profits and cash in the period, said Porvair. Sales per day have improved around 10% from the lows seen earlier in 2009.
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