Strictly embargoed until 07:00 Monday 10 October 2011
AVON RUBBER p.l.c. ("Avon", the "Group" or the "Company")
Full-year trading update for 2011
Avon is pleased to report that the financial year which ended on 30 September 2011 concluded strongly in both divisions. As a result the Board expects the Group's Profit before Taxation figure to be towards the upper end of current market expectations.
In Protection & Defence, the initial delivery order against the 3 year US Department of Defense IDIQ contract for filters announced on 8 August 2011 was completed on schedule while higher margin non-DoD sales remain on a positive trend in both the North American Homeland Security and EMEA markets.
In Dairy, the progress seen earlier in the year continued into the final quarter, with the new Impulse Mouthpiece Vented Liner making further market share gains.
Net debt at year end was £11.9m, lower than current market expectations as a result of the accelerated collection of certain receivables.
Preliminary results will be announced on 23 November 2011.
Chief Executive Peter Slabbert commented, "We are pleased to see our industry leading technologies delivering higher margin returns as we strengthen our position in global markets. The uncertain economic climate will present challenges in the coming year but I am confident that both sides of Avon's business are well positioned to make further progress in 2012."
For further enquiries, please contact:
Avon Rubber p.l.c.
Peter Slabbert, Chief Executive
Andrew Lewis, Group Finance Director
Fiona Stewart, Corporate Communications
Weber Shandwick Financial
020 7067 0700
020 7067 0700
NOTES TO EDITORS: Avon Rubber p.l.c. is a world leader in the design, test and manufacture of advanced Chemical, Biological, Radiological and Nuclear (CBRN) respiratory protection solutions to the worlds military, law enforcement, first responder,
emergency services, fire and industrial markets. Avon has a unique capability in CBRN protection based on a range of advanced
CBRN technologies in respirator design, filtration and compressed air breathing apparatus. This enables Avon to develop specialised
solutions that take full account of user requirements. Avon also owns a world leading dairy business manufacturing liners and
tubing for the automated milking process. For further information please visit the Group's website www.avon-rubber.com
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