Avon Rubber (AVON)

Sector:

Defense and Aeronautics

Index:

FTSE 250

3,270.00p
   
  • Change Today:
    -30.00p
  • 52 Week High: 3,330.00
  • 52 Week Low: 1,252.00
  • Currency: UK Pounds
  • Shares Issued: 31.02m
  • Volume: 127,600
  • Market Cap: £1,014.45m
  • RiskGrade: 257

Avon Rubber's 'excellent' year sees profits and revenues spring

By Duncan Ferris

Date: Wednesday 14 Nov 2018

LONDON (ShareCast) - (Sharecast News) - Avon Rubber reported strong annual profit and revenue growth on Wednesday, with its year-end order book also exceeding that of last year.
Over the 12 months ended 30 September reported revenue increased by 4% to £165.5m compared to the previous year, sending operating profits up by 13% to £22.8m following "good customer demand" for new products.

The design and engineering outfit remains focused on its core markets of protection & defence, and dairy.

The AIM-listed company, which trades as Avon Protection and milkrite|InterPuls, had a closing order book of £37.8m at the end of the year, up from £30m at the end of last year, after receiving £173.3m worth of orders throughout the year, up 4.4%.

Net cash at 30 September stood at £46.5m, up from £24.7m at the same point in 2017.

Paul McDonald, chief executive, said: "I am pleased to report another successful year, delivering strong growth whilst further building the order book to provide excellent visibility into 2019. The results reflect the ongoing benefits of the strategic actions we are taking to grow our presence in our core markets and to invest further in product development to meet the needs of our expanding customer base."

These actions include the $2.1m acquisition of Merrick's calf nurser product line, the release of new products such as the powered air range and MCM100 rebreather, and the relocation of Avon's West Palm Beach, Florida electronics assembly facility to its main US manufacturing facility in Michigan.

Demand for new products has been high and Avon said it has enjoyed strong sales performance of hoods and mask systems in Europe, the Middle East and Asia as the law enforcement market grows.

"The positive momentum in both Avon Protection and milkrite | InterPuls provides a strong foundation for growth and leaves us well positioned to deliver further success during 2019," said McDonald.

Avon's shares were up 4.28% at 1,370.00p at 1127 GMT.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Avon Rubber Market Data

Currency UK Pounds
Share Price 3,270.00p
Change Today -30.00p
% Change -0.91 %
52 Week High 3,330.00
52 Week Low 1,252.00
Volume 127,600
Shares Issued 31.02m
Market Cap £1,014.45m
RiskGrade 257

Avon Rubber Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.07% below the market average99.07% below the market average99.07% below the market average99.07% below the market average99.07% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
96.88% above the market average96.88% above the market average96.88% above the market average96.88% above the market average96.88% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
95.14% below the market average95.14% below the market average95.14% below the market average95.14% below the market average95.14% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
34.01% below the market average34.01% below the market average34.01% below the market average34.01% below the market average34.01% below the market average
23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Avon Rubber Dividends

  Latest Previous
  Final Interim
Ex-Div 13-Feb-20 08-Aug-19
Paid 13-Mar-20 06-Sep-19
Amount 13.89p 6.94p

Trades for 29-May-2020

Time Volume / Share Price
16:37 2,591 @ 3,270.00p
16:36 164 @ 3,270.00p
16:35 7,351 @ 3,270.00p
16:29 3 @ 3,250.00p
16:29 25 @ 3,250.00p

Avon Rubber Key Personnel

Chair David Evans
CEO Paul McDonald
CFO Nick Keveth

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