Avon Rubber: Delivering Growth
Edison | Sep 16, 2018 03:38AM ET
Avon Rubber (LON:AVON) pre-close trading statement demonstrates the underlying growth in both divisions. Success continues to flow from the enhanced product portfolio and order progression is building visibility. We have made modest changes to our forecasts to reflect currency and the Merrick’s acquisition.
Pre-close trading update
Avon’s pre-close trading update reflects the strength in its protection markets, with expected full year divisional revenue growth of c 7% on a constant currency basis. This includes slightly higher than guidance deliveries of M50 mask systems to the US Department of Defense. While activity in the law enforcement area has continued to deliver growth, the fire business has continued to reflect the market softness seen in H118. milkrite I InterPuls has seen a step-up in performance in H218, particularly in North America, and is on track to deliver revenue growth of c 4% on a constant currency basis. In June, the company completed the acquisition of the distribution rights to Merrick’s calf nurser product line for $2.1m.
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