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 buys Team Wendy for $130m as FY guidance held

By Frank Prenesti

Date: Wednesday 09 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Avon Rubber said it was buying US-based military helmet maker Team Wendy for $130m (£100m) as it maintained full year guidance.
Team Wendy makes helmets for the military and first responder markets, Avon said, adding that it had customers in more than 50 countries across military, law enforcement, and search and rescue.

In an update on trading, Avon said demand had remained robust from first responders across its entire respiratory protection product range while global dairy market conditions have remained positive, driving strong order intake at its soon-to-be-sold milkrite | InterPuls business.

"The Covid-19 pandemic has resulted in only minor disruption across our businesses, with demand remaining strong and operational efficiency enhanced by short term cost savings as a result of our response to lockdown conditions," Avon said on Wednesday.

"Full year cash conversion is expected to return to normalised levels, following receipt of the delayed payment relating to the rest of world mask contract highlighted in our half year results announcement."

Avon said it expected to receive around £160m from the dairy business sale, which would pay for the Team Wendy purchase, adding that it would also make a one-off £20m payment to strengthen its pension fund.

Avon said it would be changing its reporting currency to US dollars once the acquisition was completed and it had sold off its milkrite | InterPuls business, with around 90% of revenues and 100% of borrowings in the currency.

It added that dividends for the 2021 financial year and beyond would be set in dollars and converted into pounds for payment.

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