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Very pleased with this morning's RNS:
"Avon Protection is pleased to confirm that the Group has received its first delivery order worth $42.1 million from the U.S. Army under the Next Generation Integrated Head Protection System (NG IHPS) helmet contract W91CRB-21-D-0022."
At last! Hopefully this is the inflection point in our journey back towards the sun. Market noise aside.
... it's still on the naughty step ...
could take a year or more to change that sentiment. Tempted to dump but have decided to hang in ...
SP up 36% because there was no more bad news in the results
Speaks volumes about how this company is perceived
... and there it is
It’s surprising that the CEO has held on this long, given the debacle last year. Must be quite the survivor ….
The last year or so has shown the board of directors to have lost control, Chairman has to make whole sale changes, before forced to by major share holders.
Too many basic errors that indicate directors do not understand how to run a business, to buy a company for upfront cash, with no proven technology, no "subject to" clauses, showed lack of the financial world (Armour business- now this latest bombshell.
Chairman - make board changes now!
Been a series of disastrous press releases over the last year.
Not sure I even believe the Ukraine excuse for this one?
The management's credibility and competence seriously under scrutiny now. Time for a change at the top?
how much more ,,,? i was thinking this was a good long term bet .?
I can not see any news?
Plenty more to go no doubt .
Avon Protection (AVON), the manufacturer of protective equipment for emergency services, is to appoint Rich Cashin as its new chief financial officer.
Cashin, who is currently president of strategy and corporate development at Ultra Electronics, will join the company on March 7. A brief handover period will then take place until March 31, when he will succeed outgoing CFO Nick Keveth, who is retiring.
… and a lovely bounce back today. Noice!
Final results for 2021 published today, including the strategic review of the body armour business.
https://otp.tools.investis.com/clients/uk/avon_rubber_plc1/rns/regulatory-story.aspx?cid=820&newsid=1536386
I like the decisiveness of this and the strength and value in the core business. Today is a good opportunity to buy in or top up.
I just topped up big time!
It is absurd that in-house testing wasn't more rigorous.
Someone needs a good kick up the backside over this.
I have worked frequently with test labs, preparing many products such as fire protection, impact absorption, vehicle safety elements etc. for test. All these things have clearly defined parameters. I and those with whom I worked, ALWAYS over-specified and, of course, tested in-house, using test-rigs matching those of the customer/specifier. That is normal.
There are two simple words for the CEO to use when told that a product is ready. - "Show me". - Whoever ran this project is transparently incompetent and must resign - the delinquent CEO, also.
@nidec I think you're right. We shareholders certainly feel milked today. And not in a good way.
This management team seem ... out of their depth with the acquisitions. Time for a new team and a turnaround CEO in my view.
@nidec LOL you might be right
@Capitalizer Thank you for sharing that link, appreciate it
Maybe they should have stuck to milk
https://www.fool.co.uk/2021/11/12/heres-why-the-avon-protection-avon-share-price-just-crashed-40/
Thanks you @nidec
I'm suprised it's impacted the price by that much, do you have any links to any news/articles that have come out about this?
Remember reading this a few months ago. "It could be a sign of Avon’s management not being fully aware of the challenges related to recent acquisitions. At the time of the transaction, market commentators were quick to proclaim 3M sold the ballistics business too cheaply. Could this testing failure be the reason?"
https://www.thetwentiestrader.com/post/unmasking-avon-rubber
Body armour failed on testing and company launching a strategic review into body armour
Body armour failed on testing and company launching a strategic review into body armour
Does ANYONE know why AVON dropped by around -42% today??