Brilliant RNS last week5 Oct 2014 17:02
Avon is pleased to report that trading in the second half of the financial year has continued to be strong. Currency headwinds have also reduced since the trading update made on 5 August 2014. The Board therefore expects that the full year result will be comfortably ahead of current market expectations.
Balance sheet
The Group has driven a strong conversion of profits into cash, including accelerated payments from a major customer ahead of its financial year-end; net cash on 30 September 2014 is expected to be approximately £2.9m, compared with net debt of £10.9m on 30 September 2013.