Avon Rubber (AVON)

Sector:

Defense and Aeronautics

Index:

FTSE 250

2,664.00p
   
  • Change Today:
    -36.00p
  • 52 Week High: 4,625.00p
  • 52 Week Low: 2,660.18p
  • Currency: UK Pounds
  • Shares Issued: 31.02m
  • Volume: 118,536
  • Market Cap: £826.46m
  • RiskGrade: 186

Avon Rubber wins US defence contract worth at least $19m

By Josh White

Date: Wednesday 25 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Avon Rubber announced a competitively-awarded firm fixed price contract to supply the United States Defense Logistics Agency with 'enhanced small arms protective inserts' (ESAPI) body armour plates on Wednesday.
The FTSE 250 company said the body armour plates were a legacy product of 3M's Ceradyne ballistic-protection business, which was acquired on 2 January.

It said the framework contract had a maximum value of $333m over a three-and-a-half-year duration, being an 18-month base contract with two further one-year extension options.

The contract had a minimum value of $19m.

Avon said the first order under the contract was expected "shortly", with deliveries set to begin early in 2021.

The company said it would invest up to $5m in capital expenditure across financial years 2020 and 2021 to obtain product approvals, and to expand production capacity.

It said the successful award of the contract triggered $3 million of the contingent consideration payable to 3M under the terms of the acquisition, as announced on 7 August.

Additional contingent consideration would become payable on receipt of orders under the contract, with the maximum total contingent consideration payable to 3M being $25m.

"This is another significant, multi-year body armor contract for Avon Protection in addition to the two existing US Army 'vital torso protection' (VTP) contracts and represents further encouraging momentum in our newly acquired ballistic protection business," said chief executive officer Paul McDonald.

"This further strengthens the medium term outlook and visibility for Avon Protection and demonstrates our ongoing position as a leading provider of body armor to the US armed forces."

Email this article to a friend

or share it with one of these popular networks:


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 2,664.00p
Change Today -36.00p
% Change -1.33 %
52 Week High 4,625.00p
52 Week Low 2,660.18p
Volume 118,536
Shares Issued 31.02m
Market Cap £826.46m
RiskGrade 186

Avon Rubber Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.24% below the market average96.24% below the market average96.24% below the market average96.24% below the market average96.24% 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
38.06% below the market average38.06% below the market average38.06% below the market average38.06% below the market average38.06% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
Income
73.99% below the market average73.99% below the market average73.99% below the market average73.99% below the market average73.99% 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
33.63% below the market average33.63% below the market average33.63% below the market average33.63% below the market average33.63% below the market average
28.57% below the sector average28.57% below the sector average28.57% below the sector average28.57% below the sector average28.57% below the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 1
Sell 0
Strong Sell 1
Total 5
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
  Interim Final
Ex-Div 05-Aug-21 11-Feb-21
Paid 03-Sep-21 12-Mar-21
Amount 14.30¢ 18.06p

Trades for 18-Jun-2021

Time Volume / Share Price
16:47 353 @ 2,664.00p
16:35 51,645 @ 2,664.00p
16:30 838 @ 2,670.00p
16:29 1 @ 2,678.00p
16:29 0 @ 2,678.00p

Avon Rubber Key Personnel

CEO Paul McDonald
CFO Nick Keveth
Chair Bruce Thompson

Top of Page