Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAvon Protection Regulatory News (AVON)

Share Price Information for Avon Protection (AVON)

Share Price is delayed by 15 minutes
Get Live Data
1,660.00    2.00 (0.12%)
Bid:
1,664.00
Ask:
1,666.00
Spread: 2.00 (0.12%)
Market Cap: £488.90m
AVON Live PriceLast checked at - London Stock Exchange

Intraday Avon Protection Share Chart

Interim Management Statement

25 Jan 2011 07:00

RNS Number : 9982Z
Avon Rubber PLC
25 January 2011
 



Strictly embargoed until 07:00 Tuesday 25 January 2011

AVON RUBBER p.l.c.

("Avon", the "Group" or the "Company")

INTERIM MANAGEMENT STATEMENT FOR THE PERIOD FROM 1 OCTOBER 2010 to 24 JANUARY 2011

The Group has maintained the progress reported in the 2010 year-end announcement in the first quarter of our 2011 financial year, showing an improved financial performance over the comparative period last year.

Protection & Defence

We have continued to deliver mask systems and spare filters on schedule to the US DoD. In the period we also delivered masks with a sales value of $3.1m under our first Foreign Military Sales ('FMS') order and received a further significant order from Saudi Arabia for delivery later in the financial year. All of our US government related businesses have experienced some delays in the release of funds ahead of the approval of the 2010/2011 budget, but we expect to see this resolved during the second quarter of our financial year. Despite this we have seen an improved level of activity in the US homeland security market and our fire protection business ISI performed ahead of the corresponding period last year.

AEF continues to be profitable.

The UK MoD has exercised the third and final option of its three year contract for the supply of S10 masks as expected. This has a sales value of £1.55m and these masks are for delivery in our 2011 financial year.

Dairy

The market for our Dairy products has remained robust during the period under review. Our revenues are significantly up on the same period last year and despite higher input costs, an improved operational cost base and efficiencies have allowed us to continue to enhance our operating margins.

Net debt and interest payable

Net debt was £12.9m at 31 December 2010 (30 September 2010: £12.6m). The Group's new banking facilities which came into effect on 1 October 2010 have led to a reduction in the interest cost against the same period last year.

Outlook

We remain on track to deliver growth and improved results for the 2011 financial year, although the timing of the release of US Government funding may shift certain deliveries from the Protection & Defence business into the second half of the year.

 

In our Dairy business we expect the positive performance achieved so far to be continued.

 

For further enquiries, please contact:

Avon Rubber p.l.c.

Peter Slabbert, Chief Executive

01225 896831

Andrew Lewis, Group Finance Director

01225 896830

Hayley Baddon, Corporate Communications

01225 896363

Weber Shandwick Financial

Nick Oborne

020 7067 0700

Clare Thomas

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

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IMSSEAFWLFFSESF
Date   Source Headline
21st Mar 20194:00 pmRNSDirector/PDMR Shareholding
14th Mar 20192:01 pmRNSHolding(s) in Company
6th Mar 20194:00 pmRNSDirector/PDMR Shareholding
21st Feb 201912:00 pmRNSHolding(s) in Company
8th Feb 20197:00 amRNSDirector/PDMR Shareholding
1st Feb 201910:00 amRNSResult of AGM
1st Feb 20197:00 amRNSU.S. Department of Defense M69 Aircrew Mask Orders
31st Jan 20197:00 amRNSAnnual General Meeting - Trading Update
9th Jan 20194:00 pmRNSDirector/PDMR Shareholding
7th Jan 20197:00 amRNSUS Department of Defense M69 Aircrew Mask Contract
11th Dec 201812:00 pmRNSDirector/PDMR Shareholding
5th Dec 20184:00 pmRNSDirector/PDMR Shareholding
4th Dec 20183:00 pmRNSDirector/PDMR Shareholding
30th Nov 201812:00 pmRNSNotice of Annual Report and Accounts and AGM
14th Nov 20184:26 pmRNSDirector/PDMR Shareholding
14th Nov 20187:00 amRNSFinal Results
5th Nov 20183:48 pmRNSDirector/PDMR Shareholding
5th Oct 20184:06 pmRNSDirector/PDMR Shareholding
17th Sep 20183:07 pmRNSDirector/PDMR Shareholding
14th Sep 20187:00 amRNSPre-close trading update
6th Sep 201811:33 amRNSDirector/PDMR Shareholding
8th Aug 201810:26 amRNSDirector/PDMR Shareholding
26th Jul 20184:29 pmRNSDirector/PDMR Shareholding
26th Jul 20182:59 pmRNSDirector/PDMR Shareholding
17th Jul 20187:30 amRNSUS DoD M50 Mask Systems Order
6th Jul 20189:24 amRNSDirector/PDMR Shareholding
8th Jun 20189:24 amRNSHolding(s) in Company
5th Jun 20183:01 pmRNSDirector/PDMR Shareholding
30th May 20182:55 pmRNSDirector/PDMR Shareholding
18th May 201812:11 pmRNSDirector/PDMR Shareholding
16th May 20182:57 pmRNSDirector/PDMR Shareholding
8th May 20183:45 pmRNSDirector/PDMR Shareholding
2nd May 20187:00 amRNSHalf-year Report
6th Apr 20189:54 amRNSDirector/PDMR Shareholding
3rd Apr 20187:00 amRNSDisposal
13th Mar 20187:00 amRNSCapital Markets Event
5th Mar 20184:19 pmRNSDirector/PDMR Shareholding
23rd Feb 20184:17 pmRNSDirector/PDMR Shareholding
15th Feb 20185:43 pmRNSHolding(s) in Company
15th Feb 20187:00 amRNSUK MoD General Service Respirator Agreement
14th Feb 20185:13 pmRNSHolding(s) in Company
7th Feb 20185:30 pmRNSHolding(s) in Company
5th Feb 20184:13 pmRNSDirector/PDMR Shareholding
1st Feb 20183:58 pmRNSResult of AGM
1st Feb 20187:00 amRNSAGM Statement
29th Jan 20187:00 amRNSUS Department of Defense Mask Systems Order
24th Jan 20185:38 pmRNSHolding(s) in Company
24th Jan 201811:44 amRNSHolding(s) in Company
9th Jan 20188:52 amRNSDirector/PDMR Shareholding
20th Dec 201712:16 pmRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.