| 2024 | 2023 | Growth | |
| Alternative revenue measures | £’000 | £’000 | % |
| Aerospace & Industrial | |||
| Underlying revenue | 72,925 | 64,418 | 13 |
| Acquisition | 9,290 | – | |
| Revenue at constant currency | 82,215 | 64,418 | 28 |
| Exchange | 2,002 | 3,218 | |
| Revenue as reported | 84,217 | 67,636 | 25 |
| Laboratory | |||
| Underlying revenue | 53,251 | 53,574 | (1) |
| Acquisition | 8,193 | 2,799 | |
| Revenue at constant currency | 61,444 | 56,373 | 9 |
| Exchange | 2,919 | 4,013 | |
| Revenue as reported | 64,363 | 60,386 | 7 |
| Metal Melt Quality | |||
| Revenue at constant currency | 40,291 | 42,329 | (5) |
| Exchange | 3,768 | 5,662 | |
| Revenue as reported | 44,059 | 47,991 | (8) |
| Group | |||
| Underlying revenue | 166,467 | 160,321 | 4 |
| Acquisitions | 17,483 | 2,799 | |
| Revenue at constant currency | 183,950 | 163,120 | 13 |
| Exchange | 8,689 | 12,893 | |
| Revenue as reported | 192,639 | 176,013 | 9 |
| 2024 | 2023 | |||||
| Adjusted | Adjustments | Reported | Adjusted | Adjustments | Reported | |
| £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | |
| Operating profit | 24,540 | (1,743) | 22,797 | 22,571 | (1,331) | 21,240 |
| Finance income | 51 | – | 51 | 126 | – | 126 |
| Finance costs | (1,936) | – | (1,936) | (1,276) | – | (1,276) |
| Profit before tax | 22,655 | (1,743) | 20,912 | 21,421 | (1,331) | 20,090 |
| Income tax expense | (4,751) | 441 | (4,310) | (4,324) | 204 | (4,120) |
| Profit for the year | 17,904 | (1,302) | 16,602 | 17,097 | (1,127) | 15,970 |
| 30 November 2024 | Note | Aerospace & Industrial £’000 | Laboratory £’000 | Metal Melt Quality £’000 | Central £’000 | Group £’000 |
| Total segment revenue | 84,266 | 65,840 | 44,059 | – | 194,165 | |
| Inter-segment revenue | (49) | (1,477) | – | – | (1,526) | |
| Revenue | 84,217 | 64,363 | 44,059 | – | 192,639 | |
| Costs | (73,371) | (55,645) | (38,142) | (2,684) | (169,842) | |
| Adjusted operating profit/(loss) | 11,804 | 9,503 | 5,917 | (2,684) | 24,540 | |
| Adjustments: | ||||||
| Amortisation of acquired intangible assets | 2 | (958) | (785) | – | – | (1,743) |
| Operating profit/(loss) | 10,846 | 8,718 | 5,917 | (2,684) | 22,797 | |
| Finance income | – | – | – | 51 | 51 | |
| Finance costs | 6 | – | – | – | (1,936) | (1,936) |
| Profit/(loss) before tax | 10,846 | 8,718 | 5,917 | (4,569) | 20,912 |
| 30 November 2023 | Note | Aerospace & Industrial £’000 | Laboratory £’000 | Metal Melt Quality £’000 | Central £’000 | Group £’000 |
| Total segment revenue | 67,661 | 62,106 | 47,991 | – | 177,758 | |
| Inter-segment revenue | (25) | (1,720) | – | – | (1,745) | |
| Revenue | 67,636 | 60,386 | 47,991 | – | 176,013 | |
| Costs | (58,325) | (51,597) | (41,444) | (3,407) | (154,773) | |
| Adjusted operating profit/(loss) | 9,780 | 9,215 | 6,547 | (2,971) | 22,571 | |
| Adjustments: | ||||||
| Amortisation of acquired intangible assets | 2 | (446) | (426) | – | – | (872) |
| Other acquisition-related costs | 2 | (23) | – | – | (436) | (459) |
| Operating profit/(loss) | 9,311 | 8,789 | 6,547 | (3,407) | 21,240 | |
| Finance income | – | – | – | 126 | 126 | |
| Finance costs | 6 | – | – | – | (1,276) | (1,276) |
| Profit/(loss) before tax | 9,311 | 8,789 | 6,547 | (4,557) | 20,090 |
| Aerospace & | Metal Melt | |||||
| Industrial | Laboratory | Quality | Central | Group | ||
| 30 November 2024 | Note | £’000 | £’000 | £’000 | £’000 | £’000 |
| Depreciation – property, plant and equipment | 10 | 1,606 | 1,533 | 428 | 9 | 3,576 |
| Depreciation – right-of-use assets | 11 | 1,078 | 837 | 243 | 43 | 2,201 |
| Amortisation – intangible assets | 12 | 1,312 | 587 | 28 | – | 1,927 |
| 3,996 | 2,957 | 699 | 52 | 7,704 |
| Aerospace & | Metal Melt | |||||
| Industrial | Laboratory | Quality | Central | Group | ||
| 30 November 2023 | Note | £’000 | £’000 | £’000 | £’000 | £’000 |
| Depreciation – property, plant and equipment | 10 | 1,500 | 1,293 | 688 | 9 | 3,490 |
| Impairment – property, plant and equipment | 10 | – | 38 | – | – | 38 |
| Depreciation – right-of-use assets | 11 | 1,170 | 775 | 240 | 47 | 2,232 |
| Amortisation – intangible assets | 12 | 631 | 433 | 29 | – | 1,093 |
| 3,301 | 2,539 | 957 | 56 | 6,853 |
| 30 November 2024 | Note | Aerospace & Industrial £’000 | Laboratory £’000 | Metal Melt Quality £’000 | Central £’000 | Group £’000 |
| Segmental assets | 87,154 | 73,447 | 36,477 | 2,199 | 199,277 | |
| Cash | 16 | – | – | – | 15,838 | 15,838 |
| Total assets | 87,154 | 73,447 | 36,477 | 18,037 | 215,115 | |
| Segmental liabilities | (26,604) | (12,585) | (6,573) | (8,105) | (53,867) | |
| Retirement benefit obligations | 20 | – | – | – | (5,897) | (5,897) |
| Bank overdraſts | 16 | – | – | – | (2,097) | (2,097) |
| Total liabilities | (26,604) | (12,585) | (6,573) | (16,099) | (61,861) |
| 30 November 2023 | Note | Aerospace & Industrial £’000 | Laboratory £’000 | Metal Melt Quality £’000 | Central £’000 | Group £’000 |
| Segmental assets | 67,456 | 74,835 | 34,470 | 2,470 | 179,231 | |
| Cash | 16 | – | – | – | 16,839 | 16,839 |
| Total assets | 67,456 | 74,835 | 34,470 | 19,309 | 196,070 | |
| Segmental liabilities | (18,709) | (13,533) | (6,301) | (6,589) | (45,132) | |
| Retirement benefit obligations | 20 | – | – | – | (7,713) | (7,713) |
| Bank overdraſts | 16 | – | – | – | (2,787) | (2,787) |
| Total liabilities | (18,709) | (13,533) | (6,301) | (17,089) | (55,632) |
| 2024 | 2023 | |||
| Revenue | By destination £’000 | By origin £’000 | By destination £’000 | By origin £’000 |
| United Kingdom | 20,180 | 51,714 | 18,588 | 48,291 |
| Continental Europe | 54,025 | 48,652 | 36,707 | 28,863 |
| United States of America | 77,731 | 87,008 | 80,479 | 93,609 |
| Other NAFTA | 4,926 | – | 4,298 | – |
| South America | 1,826 | – | 2,567 | – |
| Asia | 31,359 | 5,265 | 31,925 | 5,250 |
| Africa | 2,592 | – | 1,449 | – |
| 192,639 | 192,639 | 176,013 | 176,013 |
| 2024 | 2023 | |
| Non-current assets | £’000 | £’000 |
| United Kingdom | 36,334 | 35,565 |
| Continental Europe | 38,239 | 27,381 |
| Americas | 60,874 | 60,405 |
| Asia | 105 | 63 |
| Unallocated deferred tax asset | 84 | 401 |
| 135,636 | 123,815 |
| 2024 | 2023 | |
| Capital expenditure, including right-of-use assets | £’000 | £’000 |
| United Kingdom | 5,532 | 3,484 |
| Continental Europe | 1,396 | 1,831 |
| Americas | 2,938 | 2,532 |
| Asia | 82 | 64 |
| 9,948 | 7,911 |
| 2024 | 2023 | ||
| Note | £’000 | £’000 | |
| Staff costs | 5 | 60,893 | 59,438 |
| Inventories – cost of inventories recognised as an expense (included in cost of sales) | 74,741 | 63,478 | |
| Net realised foreign exchange gain | (411) | (291) | |
| Depreciation on property, plant and equipment – owned | 10 | 3,576 | 3,490 |
| Depreciation on right-of-use assets | 11 | 2,201 | 2,232 |
| Impairment charge on property, plant and equipment – owned | 10 | – | 38 |
| Amortisation of intangible assets | 12 | 1,927 | 1,093 |
| Loss/(gain) on disposal of assets | 184 | (2) | |
| Lease rentals payable: | |||
| – Plant and machinery | 113 | 54 | |
| – Property | 73 | 13 | |
| Repairs and maintenance on property, plant and equipment | 1,966 | 2,683 | |
| Reversal of receivables impairment | (132) | (3) | |
| Research and development expenditure | 3,791 | 3,969 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Fees payable to the Company’s Auditor and its associates for audit of parent company | ||
| and consolidated financial statements | 177 | 170 |
| Interim review | 35 | 35 |
| Fees payable to the Company’s Auditor and its associates for other services: – the audit of Company’s subsidiaries | 296 | 273 |
| 508 | 478 |
| 2024 | 2023 | |
| Average number | Average number | |
| Number | ||
| Aerospace & Industrial | 402 | 395 |
| Laboratory | 412 | 419 |
| Metal Melt Quality | 185 | 187 |
| Central | 8 | 8 |
| 1,007 | 1,009 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Staff costs | ||
| Wages and salaries | 48,775 | 47,290 |
| Social security costs | 7,980 | 7,769 |
| Other pension costs | 3,387 | 3,331 |
| Share-based payments | 751 | 1,048 |
| 60,893 | 59,438 |
| 2024 | 2023 | ||
| Note | £’000 | £’000 | |
| Interest payable on bank loans and overdraſts | 750 | 453 | |
| Interest payable on lease liabilities | 11 | 811 | 368 |
| Unwinding of discount on provisions and contingent consideration | 44 | 90 | |
| Pension scheme finance expense | 20 | 331 | 365 |
| 1,936 | 1,276 |
| 2024 | 2023 | ||
| Note | £’000 | £’000 | |
| Current tax | |||
| UK Corporation tax | 752 | 794 | |
| Adjustment in respect of prior periods – UK | 265 | (173) | |
| Overseas tax | 3,360 | 2,979 | |
| Adjustment in respect of prior periods – overseas | (145) | 180 | |
| 4,232 | 3,780 | ||
| Deferred tax | |||
| Origination and reversal of temporary differences – UK | 500 | 433 | |
| Origination and reversal of temporary differences – overseas | (93) | (129) | |
| Adjustment in respect of prior periods – UK | (70) | 121 | |
| Adjustment in respect of prior periods – overseas | (259) | (2) | |
| Effect of change in deferred tax rates | – | (83) | |
| 19 | 78 | 340 | |
| 4,310 | 4,120 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Profit before tax | 20,912 | 20,090 |
| Tax at the UK Corporation tax rate of 25% (2023: 23%) | 5,228 | 4,621 |
| Current tax adjustments in respect of prior periods | 120 | 7 |
| Deferred tax adjustments in respect of prior periods | (329) | 119 |
| Deferred tax on share-based payments within the income statement | (119) | 10 |
| Tax effect of income not subject to tax | (532) | (488) |
| Tax effect of expenses not deductible in determining taxable profit | 56 | 181 |
| Effect of change in deferred tax rates | – | (83) |
| Effect of different tax rates of subsidiaries operating in other jurisdictions | (114) | (247) |
| Tax charge | 4,310 | 4,120 |
| 2024 | 2023 | ||
| Note | £’000 | £’000 | |
| Deferred tax on share-based payments (direct to equity) | 19 | 9 | (22) |
| Deferred tax on actuarial (loss)/gain on the pension fund (direct to comprehensive income) | 19 | (22) | 63 |
| Current tax on share-based payments (direct to equity) | (18) | 2 | |
| (31) | 43 |
| 2024 | 2023 | |||||
| Weighted | Weighted | |||||
| average | average | |||||
| Earnings | number of | Per share | Earnings | number of | Per share | |
| As reported | £’000 | shares | Pence | £’000 | shares | Pence |
| Profit for the year – | ||||||
| attributable to owners of the parent | 16,479 | 15,970 | ||||
| Shares in issue | 46,399,931 | 46,351,723 | ||||
| Shares owned by the Employee Benefit Trust | (355,411) | (439,447) | ||||
| Basic EPS | 16,479 | 46,044,520 | 35.8 | 15,970 | 45,912,276 | 34.8 |
| Dilutive share options outstanding | – | 5,762 | – | – | 26,112 | – |
| Diluted EPS | 16,479 | 46,050,282 | 35.8 | 15,970 | 45,938,388 | 34.8 |
| 2024 | 2023 | ||||||
| Weighted | Weighted | ||||||
| average | average | ||||||
| Earnings | number of | Per share | Earnings | number of | Per share | ||
| Adjusted | Note | £’000 | shares | Pence | £’000 | shares | Pence |
| Profit for the year – | |||||||
| attributable to owners of the parent | 16,479 | 15,970 | |||||
| Adjusting items | 2 | 1,302 | 1,127 | ||||
| Adjusted profit – | |||||||
| attributable to owners of the parent | 17,781 | 17,097 | |||||
| Adjusted Basic EPS | 17,781 | 46,044,520 | 38.6 | 17,097 | 45,912,276 | 37.2 | |
| Adjusted Diluted EPS | 17,781 | 46,050,282 | 38.6 | 17,097 | 45,938,388 | 37.2 |
| 2024 | 2023 | |||
| Per share | Per share | |||
| Pence | £’000 | Pence | £’000 | |
| Final dividend paid – in respect of prior year | 4.0 | 1,842 | 3.8 | 1,745 |
| Interim dividend paid – in respect of current year | 2.1 | 969 | 2.0 | 919 |
| 6.1 | 2,811 | 5.8 | 2,664 |
| Assets in | Plant, | |||
| Land and | course of | machinery and | ||
| buildings | construction | equipment | Total | |
| £’000 | £’000 | £’000 | £’000 | |
| Cost | ||||
| At 1 December 2022 | 14,020 | 2,517 | 47,451 | 63,988 |
| Reclassification | 76 | (4,139) | 4,063 | – |
| Additions | 104 | 2,263 | 2,335 | 4,702 |
| Acquisitions | 1,857 | 316 | 1,585 | 3,758 |
| Disposals | (1) | – | (1,419) | (1,420) |
| Exchange | (568) | (74) | (1,578) | (2,220) |
| At 30 November 2023 | 15,488 | 883 | 52,437 | 68,808 |
| Accumulated depreciation | ||||
| At 1 December 2022 | (5,003) | – | (34,674) | (39,677) |
| Charge for year | (443) | – | (3,047) | (3,490) |
| Impairment charge | – | – | (38) | (38) |
| Disposals | 1 | – | 1,329 | 1,330 |
| Exchange | 216 | – | 1,180 | 1,396 |
| At 30 November 2023 | (5,229) | – | (35,250) | (40,479) |
| Net book value at 30 November 2023 | 10,259 | 883 | 17,187 | 28,329 |
| Assets in | Plant, | |||
| Land and | course of | machinery and | ||
| buildings | construction | equipment | Total | |
| £’000 | £’000 | £’000 | £’000 | |
| Cost | ||||
| At 1 December 2023 | 15,488 | 883 | 52,437 | 68,808 |
| Reclassification | 6 | (601) | 595 | – |
| Additions | 1,198 | 2,086 | 1,555 | 4,839 |
| Acquisition | – | – | 119 | 119 |
| Disposals | (257) | – | (1,215) | (1,472) |
| Exchange | (126) | 8 | (277) | (395) |
| At 30 November 2024 | 16,309 | 2,376 | 53,214 | 71,899 |
| Accumulated depreciation | ||||
| At 1 December 2023 | (5,229) | – | (35,250) | (40,479) |
| Charge for year | (311) | – | (3,265) | (3,576) |
| Disposals | 257 | – | 1,026 | 1,283 |
| Exchange | 23 | – | 177 | 200 |
| At 30 November 2024 | (5,260) | – | (37,312) | (42,572) |
| Net book value at 30 November 2024 | 11,049 | 2,376 | 15,902 | 29,327 |
| Plant, | |||
| Land and | machinery and | ||
| buildings | equipment | Total | |
| £’000 | £’000 | £’000 | |
| Cost | |||
| At 1 December 2022 | 15,485 | 829 | 16,314 |
| New leases | 2,753 | 349 | 3,102 |
| Acquisitions | 1,827 | 31 | 1,858 |
| Exit from leases | (1,381) | (222) | (1,603) |
| Exchange | (340) | (17) | (357) |
| At 30 November 2023 | 18,344 | 970 | 19,314 |
| Accumulated depreciation | |||
| At 1 December 2022 | (5,609) | (561) | (6,170) |
| Charge for year | (2,060) | (172) | (2,232) |
| Exit from leases | 882 | 204 | 1,086 |
| Exchange | 124 | 14 | 138 |
| At 30 November 2023 | (6,663) | (515) | (7,178) |
| Net book value at 30 November 2023 | 11,681 | 455 | 12,136 |
| Plant, | |||
| Land and | machinery and | ||
| buildings | equipment | Total | |
| £’000 | £’000 | £’000 | |
| Cost | |||
| At 1 December 2023 | 18,344 | 970 | 19,314 |
| New leases | 4,847 | 147 | 4,994 |
| Acquisition | 1,725 | 70 | 1,795 |
| Exit from leases | (1,974) | (98) | (2,072) |
| Exchange | (331) | (35) | (366) |
| At 30 November 2024 | 22,611 | 1,054 | 23,665 |
| Accumulated depreciation | |||
| At 1 December 2023 | (6,663) | (515) | (7,178) |
| Charge for year | (1,984) | (217) | (2,201) |
| Exit from leases | 1,974 | 87 | 2,061 |
| Exchange | 70 | 16 | 86 |
| At 30 November 2024 | (6,603) | (629) | (7,232) |
| Net book value at 30 November 2024 | 16,008 | 425 | 16,433 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| At 1 December | (13,399) | (11,472) |
| New leases | (4,994) | (3,102) |
| Acquisitions | (2,044) | (1,858) |
| Exit from leases | – | 609 |
| Lease repayments | 3,485 | 2,551 |
| Interest on lease liabilities | (811) | (368) |
| Exchange | 307 | 241 |
| Net book value at 30 November | (17,456) | (13,399) |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Repayable within one year | (2,487) | (2,057) |
| Repayable aſter one year | (14,969) | (11,342) |
| (17,456) | (13,399) |
| 2024 | 2023 | |
| Minimum lease liabilities falling due | £’000 | £’000 |
| Within one year – land and buildings | (3,109) | (2,295) |
| Within one year – property, plant and equipment | (59) | (152) |
| Total within one year | (3,168) | (2,447) |
| Between one and five years – land and buildings | (9,976) | (7,159) |
| Between one and five years – property, plant and equipment | (85) | (354) |
| Total between one and five years | (10,061) | (7,513) |
| Greater than five years – land and buildings | (7,311) | (5,098) |
| Greater than five years – property, plant and equipment | – | – |
| Total greater than five years | (7,311) | (5,098) |
| Total commitment | (20,540) | (15,058) |
| Less: finance charges included above | 3,084 | 1,659 |
| Net present value of lease liabilities | (17,456) | (13,399) |
| Trademarks, | |||||
| Development | know–how | ||||
| expenditure | Soſtware | and other | |||
| Goodwill | capitalised | capitalised | intangibles | Total | |
| £’000 | £’000 | £’000 | £’000 | £’000 | |
| Net book amount at 30 November 2022 | 72,332 | 2 | 498 | 5,068 | 77,900 |
| Additions | – | – | 107 | – | 107 |
| Acquisitions | 5,425 | – | 43 | 3,240 | 8,708 |
| Amortisation charges | – | (1) | (196) | (896) | (1,093) |
| Exchange | (2,589) | (1) | (6) | (77) | (2,673) |
| Net book amount at 30 November 2023 | 75,168 | – | 446 | 7,335 | 82,949 |
| At 30 November 2023 Cost | 93,841 | 908 | 1,899 | 12,207 | 108,855 |
| Accumulated amortisation and impairment | (18,673) | (908) | (1,453) | (4,872) | (25,906) |
| Net book amount at 30 November 2023 | 75,168 | – | 446 | 7,335 | 82,949 |
| Additions | – | 49 | 240 | – | 289 |
| Acquisition | 5,504 | – | – | 4,092 | 9,596 |
| Amortisation charges | – | (8) | (176) | (1,743) | (1,927) |
| Exchange | (842) | – | (5) | (268) | (1,115) |
| Net book amount at 30 November 2024 | 79,830 | 41 | 505 | 9,416 | 89,792 |
| At 30 November 2024 Cost | 98,501 | 956 | 2,155 | 15,971 | 117,583 |
| Accumulated amortisation and impairment | (18,671) | (915) | (1,650) | (6,555) | (27,791) |
| Net book amount at 30 November 2024 | 79,830 | 41 | 505 | 9,416 | 89,792 |
| 2024 | 2023 | |||||||
| Aerospace & Industrial | Laboratory | Metal Melt Quality | Total | Aerospace & Industrial | Laboratory | Metal Melt Quality | Total | |
| £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | |
| Net book amount of goodwill | 26,293 | 34,366 | 19,171 | 79,830 | 21,166 | 34,626 | 19,376 | 75,168 |
| 2024 | 2023 | ||
| CGU Group | Segment | £’000 | £’000 |
| Selee Corporation | Metal Melt Quality | 19,171 | 19,376 |
| Porvair Filtration Group Inc. | Aerospace & Industrial | 10,517 | 10,560 |
| Seal Analytical Group | Laboratory | 11,948 | 12,158 |
| 41,636 | 42,094 |
| Aerospace & Industrial | Laboratory | Metal Melt Quality | |||||
| US | UK | Continental Europe | US | UK | Continental Europe | US | |
| Budgeted gross margin | 30% | 28% | 32% | 35% | 38% | 31% | 28% |
| Long-term growth rate | 4.3% | 3.4% | 2.6% | 4.3% | 3.4% | 2.8% | 4.3% |
| Pre-tax discount rate | 11.9% | 12.3% | 10.5% | 11.5% | 12.0% | 9.9% | 11.9% |
| Aerospace & Industrial | Laboratory | Metal Melt Quality | |||||
| US | UK | Continental Europe | US | UK | Continental Europe | US | |
| Budgeted gross margin | 31% | 27% | 27% | 30% | 37% | 37% | 28% |
| Long-term growth rate | 4.3% | 3.5% | 3.6% | 4.3% | 3.5% | 2.9% | 4.3% |
| Pre-tax discount rate | 13.5% | 15.1% | 11.9% | 11.7% | 12.9% | 10.2% | 13.5% |
| 2024 | 2023 | |||
| Assets | Liabilities | Assets | Liabilities | |
| £’000 | £’000 | £’000 | £’000 | |
| Forward foreign exchange contracts – current | 7 | (40) | 250 | – |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Raw materials | 9,530 | 9,897 |
| Work in progress | 11,194 | 10,390 |
| Finished goods | 11,245 | 11,611 |
| 31,969 | 31,898 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Current | ||
| Trade receivables | 28,369 | 21,306 |
| Less: provision for impairment | (855) | (1,443) |
| Trade receivables – net | 27,514 | 19,863 |
| Other debtors | 2,250 | 1,263 |
| Prepayments | 1,901 | 2,142 |
| 31,665 | 23,268 |
| 2024 | 2023 | |||||
| Trade receivables (current): | Not yet due £’000 | Past due not impaired £’000 | Impaired £’000 | Not yet due £’000 | Past due not impaired £’000 | Impaired £’000 |
| Not yet due | 24,470 | – | – | 16,449 | – | – |
| 0 – 30 days | – | 2,039 | – | – | 2,605 | – |
| 31 – 60 days | – | 848 | 214 | – | 445 | 130 |
| 61 – 90 days | – | 118 | 60 | – | 320 | 231 |
| 91 – 180 days | – | 39 | 140 | – | 44 | 95 |
| > 180 days | – | – | 441 | – | – | 987 |
| Total | 24,470 | 3,044 | 855 | 16,449 | 3,414 | 1,443 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| At 1 December | 1,443 | 1,444 |
| Reversal of receivables impairment | (132) | (3) |
| Acquisitions | 186 | 49 |
| Receivables written off during the year as uncollectable | (622) | – |
| Exchange | (20) | (47) |
| At 30 November | 855 | 1,443 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Cash | 15,838 | 16,839 |
| Bank overdraſts | (2,097) | (2,787) |
| 13,741 | 14,052 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Pound Sterling | 3,412 | 4,091 |
| US dollar | 5,362 | 5,304 |
| Euro | 4,196 | 4,124 |
| Other | 771 | 533 |
| 13,741 | 14,052 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Amounts falling due within one year: | ||
| Trade payables | 9,286 | 8,628 |
| Taxation and social security | 896 | 790 |
| Other payables | 2,030 | 1,390 |
| Accruals and contract liabilities | 15,196 | 13,019 |
| 27,408 | 23,827 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Secured multi-currency revolving credit facility | – | – |
| Accelerated capital allowances | Other short- term timing differences | Intangibles | Share-based payments | Retirement obligations | Total | |
| £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | |
| At 1 December 2022 | (3,747) | 1,411 | (2,060) | 306 | 2,325 | (1,765) |
| Acquisitions | – | – | (883) | – | – | (883) |
| Credited/(charged) to income statement | (573) | 363 | 47 | 191 | (368) | (340) |
| Credited to equity | – | – | – | 22 | – | 22 |
| Credited to comprehensive income | – | – | – | – | (63) | (63) |
| Exchange | (180) | 118 | (91) | – | – | (153) |
| At 30 November 2023 | (4,500) | 1,892 | (2,987) | 519 | 1,894 | (3,182) |
| Acquisition | – | 207 | (1,013) | – | – | (806) |
| Credited/(charged) to income statement | 388 | (165) | 439 | (110) | (474) | 78 |
| Charged to equity | – | – | – | (9) | – | (9) |
| Credited to comprehensive income | – | – | – | – | 22 | 22 |
| Exchange | 283 | (206) | 200 | – | – | 277 |
| At 30 November 2024 | (3,829) | 1,728 | (3,361) | 400 | 1,442 | (3,620) |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Defined benefit plan | 5,766 | 7,576 |
| Additional defined benefit obligations | 131 | 137 |
| 5,897 | 7,713 |
| The principal actuarial assumptions adopted in the 2021 valuation were: | 2021 valuation assumptions % |
| Past service investment return: | |
| Pre-retirement discount rate | 2.85 |
| Post-retirement discount rate | 1.50 |
| Salary increases | 3.10 |
| 2024 | 2023 | |
| Valuation method | Projected Unit | Projected Unit |
| Discount rate | 5.1% | 5.2% |
| RPI inflation rate | 3.2% | 3.2% |
| CPI inflation rate | 2.8% | 2.8% |
| General salary increases | 3.0% | 3.0% |
| Rate of increase of pensions in payment: | ||
| – pre 6 April 1997 | 0.0% | 0.0% |
| – post 5 April 1997 to pre 6 April 2005 | 2.7% | 2.7% |
| – post 5 April 2005 | 1.9% | 1.9% |
| Rate of increase for deferred pensioners | 2.8% | 2.8% |
| 2024 Years | 2023 Years | |
| Retiring at the end of the reporting period: | ||
| – Male | 19.5 | 19.3 |
| – Female | 21.7 | 21.5 |
| Retiring 15 years aſter the end of the reporting period: | ||
| – Male | 20.2 | 20.0 |
| – Female | 22.7 | 22.5 |
| 2024 Number of members | 2023 Number of members | |
| Active | 26 | 27 |
| Deferred | 180 | 187 |
| Pensioner | 273 | 277 |
| 479 | 491 |
| Impact on defined benefit obligation | |||
| Change in assumption | Increase in assumption | Decrease in assumption | |
| Discount rate | 0.1% | Decrease of 1.2% | Increase of 1.3% |
| Inflation rate | 0.1% | Increase of 0.6% | Decrease of 0.6% |
| Life expectancy | 1 year | Increase of 3.3% | Decrease of 3.4% |
| Value at 30 November 2024 £’000 | Value at 30 November 2023 £’000 | |
| Equities | 4,827 | 3,953 |
| Bonds | 2,533 | 2,356 |
| Gilts | 2,073 | 1,744 |
| Liability driven investment | 8,004 | 7,744 |
| Infrastructure | 5,043 | 4,330 |
| Other | 3,046 | 3,146 |
| Fair value of Plan assets | 25,526 | 23,273 |
| Present value of unfunded obligations | (31,292) | (30,849) |
| Deficit in the Plan (excluding deferred tax) | (5,766) | (7,576) |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Deficit at 1 December | (7,576) | (9,641) |
| Contributions paid | 2,612 | 2,605 |
| Current service cost | (89) | (128) |
| Administration expense | (296) | (300) |
| Other finance expense | (331) | (365) |
| Actuarial (loss)/gain | (86) | 253 |
| Deficit at 30 November | (5,766) | (7,576) |
| 2024 £’000 | 2023 £’000 | |
| Plan assets at 1 December | 23,273 | 24,469 |
| Benefit payments | (1,478) | (1,733) |
| Company contributions | 2,612 | 2,605 |
| Administration expense | (296) | (300) |
| Member contributions | 127 | 120 |
| Interest income on Plan assets | 1,223 | 1,067 |
| Gain/(loss) on Plan assets (excluding interest income) | 65 | (2,955) |
| Plan assets at 30 November | 25,526 | 23,273 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Plan liabilities at 1 December | (30,849) | (34,110) |
| Current service cost | (89) | (128) |
| Interest cost | (1,554) | (1,432) |
| Member contributions | (127) | (120) |
| Benefits paid | 1,478 | 1,733 |
| (Loss)/gain on change in financial and demographic assumptions | (151) | 3,208 |
| Plan liabilities at 30 November | (31,292) | (30,849) |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Active | (7,296) | (6,760) |
| Deferred | (12,704) | (12,187) |
| Pensioner | (11,292) | (11,902) |
| Plan liabilities at 30 November | (31,292) | (30,849) |
| 2024 | 2023 | |
| Income statement | £’000 | £’000 |
| Analysis of amounts chargeable to operating profit: | ||
| Current service cost | (89) | (128) |
| Administration expense | (296) | (300) |
| Amount chargeable to operating profit | (385) | (428) |
| Analysis of amounts (charged)/credited to other finance income and costs: | ||
| Interest on Plan liabilities | (1,554) | (1,432) |
| Expected return on Plan assets | 1,223 | 1,067 |
| Net amount charged to other finance income and costs | (331) | (365) |
| Total chargeable to the income statement before deduction of tax | (716) | (793) |
| Other items | ||
| Analysis of amounts recognised in the consolidated statement of comprehensive income: | ||
| Actual gain/(loss) on assets in excess of expected return | 65 | (2,955) |
| (Loss)/gain on change in financial and demographic assumptions | (151) | 3,208 |
| Total actuarial (loss)/gain recognised in the consolidated statement of comprehensive income | (86) | 253 |
| Cumulative actuarial loss recognised in the consolidated statement of comprehensive income | (7,659) | (7,573) |
| Dilapidations | Warranty | Total | |
| £’000 | £’000 | £’000 | |
| At 1 December 2023 | 363 | 3,243 | 3,606 |
| Additional charge in the year | – | 742 | 742 |
| Utilisation of provision | – | (509) | (509) |
| Release of provision | (61) | (199) | (260) |
| Unwinding of discount | 44 | – | 44 |
| Exchange | – | (21) | (21) |
| At 30 November 2024 | 346 | 3,256 | 3,602 |
| 2024 | 2023 | |
| Analysis of total provisions | £’000 | £’000 |
| Current | 3,256 | 3,243 |
| Non-current | 346 | 363 |
| Net book value at 30 November | 3,602 | 3,606 |
| Share premium | ||||
| Number of | Share capital | account | Total | |
| shares | £’000 | £’000 | £’000 | |
| At 1 December 2022 | 46,325,581 | 927 | 37,626 | 38,553 |
| Issue of shares on exercise of share options | 34,217 | – | 152 | 152 |
| At 30 November 2023 | 46,359,798 | 927 | 37,778 | 38,705 |
| At 1 December 2023 | 46,359,798 | 927 | 37,778 | 38,705 |
| Issue of shares on exercise of share options | 136,755 | 3 | 629 | 632 |
| At 30 November 2024 | 46,496,553 | 930 | 38,407 | 39,337 |
| Subscription | 2024 | 2023 | |||
| Year of | Exercise | price | Number of | Number of | |
| Scheme | grant | period | (pence) | shares | shares |
| 2014 5yr Save As You Earn Scheme | 2019 | 2024 - 2025 | 470.00 | – | 20,422 |
| 2018 Long Term Share Plan | 2020 | 2023 - 2030 | 2.00 | – | 84,640 |
| 2014 3yr Save As You Earn Scheme | 2021 | 2024 | 460.00 | – | 120,151 |
| 2014 5yr Save As You Earn Scheme | 2021 | 2026 | 460.00 | 32,993 | 32,993 |
| 2018 Long Term Share Plan | 2021 | 2024 - 2031 | 2.00 | 46,200 | 203,800 |
| 2018 Long Term Share Plan | 2022 | 2025 - 2032 | 2.00 | 119,600 | 119,600 |
| 2014 3yr Save As You Earn Scheme | 2023 | 2026 | 514.00 | 100,443 | 124,911 |
| 2014 5yr Save As You Earn Scheme | 2023 | 2028 | 514.00 | 58,317 | 58,317 |
| 2018 Long Term Share Plan | 2023 | 2026 - 2033 | 2.00 | 154,545 | 154,545 |
| 2018 Long Term Share Plan | 2024 | 2027 - 2034 | 2.00 | 152,300 | – |
| At 30 November | 664,398 | 919,379 |
| 2024 | 2023 | |||
| Weighted | Weighted | |||
| average | average | 2024 | 2023 | |
| exercise | exercise | Number of | Number of | |
| price (pence) | price (pence) | shares | shares | |
| At 1 December | 190.73 | 157.15 | 919,379 | 629,239 |
| Options granted | 2.00 | 279.74 | 152,300 | 337,773 |
| Options forfeited | 503.02 | 182.41 | (28,286) | (12,069) |
| Options exercised | 142.75 | 444.90 | (378,995) | (35,564) |
| At 30 November | 147.09 | 190.73 | 664,398 | 919,379 |
| Options exercisable at 30 November | 2.00 | 2.00 | 46,200 | 84,640 |
| Options not exercisable at 30 November | 209.56 | 209.86 | 618,198 | 834,739 |
| Total | 147.09 | 190.73 | 664,398 | 919,379 |
| Exercise | 2024 | 2023 | |||
| Year of | price | Number of | Number of | ||
| grant | Scheme | (pence) | shares | shares | |
| 2023 | 3yr SAYE | 514.00 | – | 124,911 | |
| 2023 | 5yr SAYE | 514.00 | – | 58,317 | |
| 2023 | 2018 LTSP | 2.00 | – | 154,545 | |
| 2024 | 2018 LTSP | 2.00 | 152,300 | – | |
| Total | 152,300 | 337,773 |
| Exercise | 2024 | 2023 | |||
| Year of | price | Number of | Number of | ||
| grant | Scheme | (pence) | shares | shares | |
| 2020 | 2018 LTSP | 2.00 | – | 7,360 | |
| 2019 | 3yr SAYE | 470.00 | – | 2,067 | |
| 2021 | 3yr SAYE | 460.00 | 5,752 | 2,642 | |
| 2023 | 3yr SAYE | 514.00 | 22,534 | – | |
| Total | 28,286 | 12,069 |
| Exercise | 2024 | 2023 | |||
| Year of | price | Number of | Number of | ||
| grant | Scheme | (pence) | shares | shares | |
| 2017 | 5yr SAYE | 398.00 | – | 12,209 | |
| 2019 | 3yr SAYE | 470.00 | – | 22,008 | |
| 2019 | 5yr SAYE | 470.00 | 20,422 | – | |
| 2021 | 3yr SAYE | 460.00 | 114,399 | 1,347 | |
| 2023 | 3yr SAYE | 514.00 | 1,934 | – | |
| 2020 | 2018 LTSP | 2.00 | 84,640 | – | |
| 2021 | 2018 LTSP | 2.00 | 157,600 | – | |
| Total | 378,995 | 35,564 |
| Grant date | 24/04/21 | 01/06/21 | 04/02/22 | 01/06/23 | 01/06/23 | 02/02/23 | 07/02/24 |
| Porvair 2018 | SAYE 2014 | Porvair 2018 | SAYE 2014 | SAYE 2014 | Porvair 2018 | Porvair 2018 | |
| Scheme | LTSP | 5 year | LTSP | 3 year | 5 year | LTSP | LTSP |
| Share price at grant date | 552.00p | 570.00p | 676.00p | 650.00p | 650.00p | 640.00p | 650.00p |
| Exercise price | 2.00p | 460.00p | 2.00p | 514.00p | 514.00p | 2.00p | 2.00p |
| Shares under option | 46,200 | 32,993 | 119,600 | 100,443 | 58,317 | 154,545 | 152,300 |
| Vesting period (years) | 3 | 5 | 3 | 3 | 5 | 3 | 3 |
| Expected volatility | 46% | 42% | 47% | 52% | 47% | 46% | 46% |
| Expected life (years) | 3 | 5 | 3 | 3 | 5 | 3 | 3 |
| Risk free rate | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
| Dividend yield | 0.91% | 0.88% | 0.72% | 0.89% | 0.89% | 0.77% | 0.92% |
| Fair value per option (£) | 5.35290 | 2.38850 | 6.59547 | 2.72508 | 2.97161 | 6.23556 | 6.30335 |
| 2024 | 2023 | |
| Share-based payments | £’000 | £’000 |
| Charge for the year | 751 | 1,048 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Operating profit | 22,797 | 21,240 |
| Adjustments for: | ||
| – Fair value movement of derivatives through profit and loss | 283 | (15) |
| – Share-based payments | 751 | 1,048 |
| – Depreciation of property, plant and equipment, and amortisation of intangibles | 5,504 | 4,583 |
| – Depreciation of right-of-use assets | 2,201 | 2,232 |
| – Impairment of property, plant and equipment | 16 | 38 |
| – Loss/(gain) on disposal of assets | 184 | (2) |
| Operating cash flows before movement in working capital | 31,736 | 29,124 |
| – Decrease/(increase) in inventories | 548 | (430) |
| – (Increase)/decrease in trade and other receivables | (7,161) | 973 |
| – Increase/(decrease) in trade and other payables | 2,876 | (3,019) |
| – Decrease in provisions | (27) | (392) |
| Increase in working capital | (3,764) | (2,868) |
| Post-employment benefits | (2,228) | (2,177) |
| Cash generated from operations | 25,744 | 24,079 |
| Total | |
| £’000 | |
| Cash consideration | 10,294 |
| Fair value of net assets acquired (below) | (4,790) |
| Goodwill | 5,504 |
| Fair value | |
| Fair value of identifiable assets acquired and liabilities assumed: | £’000 |
| Property, plant and equipment (including right-of-use assets) | 1,914 |
| Trademark, customer order book and relationships (included within intangible assets) | 4,092 |
| Inventories | 943 |
| Trade and other receivables | 1,626 |
| Cash and cash equivalents | 128 |
| Deferred tax liability | (816) |
| Trade and other payables (including lease liabilities) | (3,097) |
| Fair value of net assets acquired | 4,790 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| At 1 December | 161 | 945 |
| Deferred consideration | – | 200 |
| Cash paid in year | (38) | (1,028) |
| Unwind of discount | – | 55 |
| Exchange | – | (11) |
| At 30 November | 123 | 161 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Included within other payables: | ||
| – Current | 38 | 38 |
| – Non-current | 85 | 123 |
| At 30 November | 123 | 161 |
| 2024 | 2023 | |
| US$’000 | US$’000 | |
| Outstanding forward contracts | 4,000 | 10,000 |
| 2024 | 2023 | |
| US$’000 | US$’000 | |
| Trade receivables | 20,026 | 15,546 |
| Cash balances | 6,816 | 6,715 |
| Other current assets | 11,518 | 15,255 |
| Trade payables | (4,637) | (5,017) |
| Other current liabilities | (5,156) | (8,381) |
| 28,567 | 24,118 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| US dollar strengthens | 2,497 | 2,116 |
| US dollar weakens | (2,043) | (1,733) |
| 2024 | 2023 | |
| €’000 | €’000 | |
| Trade receivables | 6,868 | 5,054 |
| Cash balances | 4,196 | 4,785 |
| Other current assets | 12,236 | 15,318 |
| Trade payables | (3,209) | (2,314) |
| Other current liabilities | (8,024) | (15,114) |
| 12,067 | 7,729 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Euro strengthens | 1,114 | 740 |
| Euro weakens | (912) | (606) |
| Less than 1 year | Between 1 and 2 years | Between 2 and 5 years | Greater than 5 years | Effect of discounting/ financing rates | Carrying amount liabilities | |
| £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | |
| Lease liabilities | 3,168 | 3,168 | 6,893 | 7,311 | (3,084) | 17,456 |
| Derivatives | 40 | – | – | – | – | 40 |
| Trade and other payables excluding non-financial liabilities | 23,360 | – | – | – | – | 23,360 |
| Bank loans | 400 | – | – | – | (400) | – |
| At 30 November 2024 | 26,968 | 3,168 | 6,893 | 7,311 | (3,484) | 40,856 |
| Less than 1 year | Between 1 and 2 years | Between 2 and 5 years | Greater than 5 years | Effect of discounting/ financing rates | Carrying amount liabilities | |
| £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | |
| Lease liabilities | 2,447 | 2,447 | 5,066 | 5,098 | (1,659) | 13,399 |
| Trade and other payables excluding non-financial liabilities | 20,495 | – | – | – | – | 20,495 |
| At 30 November 2023 | 22,942 | 2,447 | 5,066 | 5,098 | (1,659) | 33,894 |
| Level 1 | Level 2 | Level 3 | Total | |
| £’000 | £’000 | £’000 | £’000 | |
| Financial instruments at fair value through profit or loss: | ||||
| – Trading derivative assets | – | 7 | – | 7 |
| – Trading derivative liabilities | – | (40) | – | (40) |
| At 30 November 2024 | – | (33) | – | (33) |
| Level 1 | Level 2 | Level 3 | Total | |
| £’000 | £’000 | £’000 | £’000 | |
| Financial instruments at fair value through profit or loss: | ||||
| – Trading derivative assets | – | 250 | – | 250 |
| At 30 November 2023 | – | 250 | – | 250 |
| 2024 | 2023 | |||||||
| Other financial assets at amortised cost | Financial assets at fair value through profit and loss | Financial assets at fair value through comprehensive income | Total | Other financial assets at amortised cost | Financial assets at fair value through profit and loss | Financial assets at fair value through comprehensive income | Total | |
| £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | |
| Assets as per the balance sheet | ||||||||
| Foreign exchange contracts | – | 7 | – | 7 | – | 250 | – | 250 |
| Trade and other receivables excluding prepayments | 29,764 | – | – | 29,764 | 21,126 | – | – | 21,126 |
| Cash | 15,838 | – | – | 15,838 | 16,839 | – | – | 16,839 |
| At 30 November | 45,602 | 7 | – | 45,609 | 37,965 | 250 | – | 38,215 |
| 2024 | 2023 | |||||||
| Other financial liabilities at amortised cost | Financial liabilities at fair value through profit and loss | Financial liabilities at fair value through comprehensive income | Total | Other financial liabilities at amortised cost | Financial liabilities at fair value through profit and loss | Financial liabilities at fair value through comprehensive income | Total | |
| £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | £’000 | |
| Liabilities as per the balance sheet | ||||||||
| Foreign exchange contracts | – | (40) | – | (40) | – | – | – | – |
| Trade and other payables excluding non-financial liabilities | (23,360) | – | – | (23,360) | (20,495) | – | – | (20,495) |
| Bank overdraſts | (2,097) | – | – | (2,097) | (2,787) | – | – | (2,787) |
| At 30 November | (25,457) | (40) | – | (25,497) | (23,282) | – | – | (23,282) |
| US$’000 | €’000 | |
| Advanced payment bonds | – | 4,603 |
| Performance bonds | 696 | 435 |
| At 30 November 2024 | 696 | 5,038 |
| US$’000 | €’000 | |
| Advanced payment bonds | – | 2,514 |
| Performance bonds | – | 499 |
| At 30 November 2023 | – | 3,013 |
| 2024 | 2023 | |
| £’000 | £’000 | |
| Salaries and other short-term employee benefits | 1,449 | 1,315 |
| Post-employment benefits | 117 | 96 |
| Share-based payments | 541 | 745 |
| 2,107 | 2,156 |
| Subsidiary name | Subsidiary registered address | Activity | Country of incorporation and operation | % holding in ordinary shares |
| Held directly: | ||||
| Porvair Corporation | 700 Shepherd Street, Hendersonville, NC 28792, USA | Holding | USA | 100% |
| Porvair Filtration India Private Limited | 401 Centrum IT Park, Thane MH 400604, India | Trading | India | 60% |
| Porvair Filtration Limited* | 7 Regis Place, Bergen Way, King's Lynn, UK | Holding | England | 100% |
| Porvair Holdings B.V. | Nordezee 8, 3144DB, Maassluis, Netherlands | Holding | Netherlands | 100% |
| Porvair Selee Filtration Technology (Hubei) | Chengdong Area, Square Industrial Park, Xiaogan | |||
| Company Limited | 432000, China | Trading | China | 100% |
| Seal Analytical Limited* | 7 Regis Place, Bergen Way, King's Lynn, UK | Trading | England | 100% |
| Seal Analytical Shanghai Company Limited | Room 413, Building 12, No. 128, Xiang Yin Road, Shanghai 200433, China | Trading | China | 100% |
| Kbiosystems Limited* | 7 Regis Place, Bergen Way, King's Lynn, UK | Trading | England | 100% |
| Held indirectly: | ||||
| Dahlman Industrial Group B.V. | Nordezee 8, 3144DB, Maassluis, Netherlands | Holding | Netherlands | 100% |
| Dahlman Filter Services B.V. | Business Park Stein 139,6181 MA Elsloo, Netherlands | Trading | Netherlands | 100% |
| Dahlman Filter Services GmbH | Hoffmannallee 41-51, 47533 Kleve, Germany | Trading | Germany | 100% |
| J G Finneran Associates, Inc. | 3600 Reilly Court, Vineland, NJ 08360, USA | Trading | USA | 100% |
| Microfiltrex Limited | 7 Regis Place, Bergen Way, King's Lynn, UK | Dormant | England | 100% |
| Kbioservices Limited | 7 Regis Place, Bergen Way, King's Lynn, UK | Dormant | England | 100% |
| Platex, Plaat- en Constructiewerken B.V. | Nordezee 8, 3144DB, Maassluis, Netherlands | Dormant | Netherlands | 100% |
| Porvair Filtration Group Inc. | 301 Business Lane, Ashland, VA 23005, USA | Trading | USA | 100% |
| Porvair Filtration Group Limited | 7 Regis Place, Bergen Way, King's Lynn, UK | Trading | England | 100% |
| Porvair Sciences Limited | 7 Regis Place, Bergen Way, King's Lynn, UK | Trading | England | 100% |
| Pulse Instrumentation GmbH | Werkstrasse 5, 22844 Norderstedt, Germany | Trading | Germany | 100% |
| Rohasys B.V. | Provinciënbaan 4, 5121 DL Rijen, Netherlands | Trading | Netherlands | 100% |
| Seal Analytical GmbH | Werkstrasse 5, 22844 Norderstedt, Germany | Trading | Germany | 100% |
| Seal Analytical Inc. | 6501 W. Donges Bay Road, Mequon, WI 53092, USA | Trading | USA | 100% |
| Selee Corporation | 700 Shepherd Street, Hendersonville, NC 28792, USA | Trading | USA | 100% |
| Technisch Bureau Dahlman B.V. | Nordezee 8, 3144DB, Maassluis, Netherlands | Trading | Netherlands | 100% |
| Ratiolab GmbH | Am Siebenstein 12, 63303 Dreieich, Germany | Trading | Germany | 100% |
| Ratiolab Hungary Kſt. | 2111 Szada, Ipari Park út, Budapest, Hungary | Trading | Hungary | 100% |
| European Filter Corporation NV | Deleestraat 30, 3560 Lummen, Belgium | Trading | Belgium | 100% |
