Avon Rubber: More M50s
Edison | Jul 18, 2018 01:12AM ET
Avon Rubber (LON:AVON) has announced another M50 order in the final year of the 10-year sole-source contract with the US Department of Defense (DoD). This order underpins FY18 and FY19 expectations and we make no changes to our forecasts. However, Avon is in advanced negotiations with the US DoD on future programmes, which fit comfortably with its growth strategy.
This month's order from the US DoD is for 93,000 M50 masks and has a value of c $25m. This follows on the order in January for 47,000 M50 mask systems and brings total orders in FY18 to 217,000. For reference, the brought-forward order book at the end of September 2017 was 49,000 masks.
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