Friday 21 February 1997
Porvair, the synthetic clothing maker that issued two profit warnings last year, recouped some of Wednesday's losses when the company revealed a 19 per cent drop in profits.
The shares rose 5p to 255p as house broker Beeson Gregory upgraded its recommendation to buy with earnings of 18.1p pencilled in for this year, implying a price/earnings ratio of 14. The broker feels significant recovery this year justifies a premium rating to the market.
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- 5 Iran to send 4,000 troops to aid President Assad forces in Syria
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