(Alliance News) - Avon Protection PLC said on Tuesday that its financial 2022 pretax loss narrowed while its 2023 first quarter performance has been in line with expectations so far.
The Wiltshire-based respiratory protection equipment manufacturer said its pretax loss for the year that ended October 1 was GBP8.5 million, narrowing from USD35.6 million a year ago.
Its revenue rose by 9.5% to USD271.9 million from USD248.3 million, while it maintained its annual dividend of 44.9 pence.
Avon Protection said its first quarter performance of its financial 2023 had been in line with expectations, as its opening order book of USD151.3 million provided good visibility ahead of the financial year.
It saw mid-single-digit revenue growth excluding armour driven by the start of its first USD42.1 million US Army order for its next-generation integrated head protection system helmet. Revenue from armour sales is expected to total USD28 million to USD30 million.
Shares in Avon Protection were down by 2.3% to 1,169.02 pence in London on Tuesday morning.
By Greg Rosenvinge; gregrosenvinge@alliancenews.com
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Avon Protection (AVON)