Avon Rubber PLC Trading Update (8054V)
February 02 2017 - 2:00AM
UK Regulatory
TIDMAVON
RNS Number : 8054V
Avon Rubber PLC
02 February 2017
Strictly embargoed until 07:00 Thursday 2(nd) February 2017
AVON RUBBER p.l.c. ("Avon", the "Group" or the "Company")
Annual General Meeting -- trading update for the quarter ended
31 December 2016
The Board is pleased to report that trading in the first quarter
has continued in line with expectations.
Protection & Defence
Order intake in our Protection & Defence division has been
encouraging and the deliverable order book for the remainder of the
financial year is higher than last year. Negotiations with Middle
East customers are continuing and each of the expected impact
orders continues to progress.
Our Fire business continues to grow in Europe and the US, led by
Argus thermal imaging camera sales but also through organic growth
in sales of our Deltair Self Contained Breathing Apparatus
(SCBA).
We have continued to deliver under our order from the New York
City Police Department for CBRN/ CO hoods and are encouraged by
market interest for this product.
Dairy
The Dairy division is performing well with the introduction of
InterPuls into the US market making encouraging progress.
Milk prices have continued to improve, benefiting Dairy market
conditions generally.
Balance sheet
The Group has produced strong first quarter cashflow and had a
net cash balance of GBP11.1m at 31 December 2016 (30 September
2016: a net cash balance of GBP2.0m).
Outlook
With a positive start to the financial year and the continued
building of a sustainable pipeline of prospects, the Board is
confident of achieving the current year expectations.
Interim results for the six months ended 31 March 2017 will be
announced on 16 May 2017.
Ends
For further enquiries, please contact:
Avon Rubber p.l.c.
Rob Rennie, Chief Executive Officer 01225 896870
Paul Rayner, Group Finance Director 01225 896831
Weber Shandwick Financial
Nick Oborne 020 7067 0700
Note to editors: The Group has transformed itself over recent
years into an innovative design and engineering group, specialising
in two core markets, Protection & Defence and Dairy. With a
strong emphasis on research and development, we design, test and
manufacture specialist products from a number of sites in the US
and Europe, serving markets around the world. We achieve this
through nurturing the talent and aspirations of our employees to
realise their highest potential.
Avon Protection Systems is the recognised global market leader
in advanced Chemical, Biological, Radiological and Nuclear (CBRN)
respiratory protection systems for the world's military, homeland
security, first responder, fire and industrial markets. With an
unrivalled pedigree in mask design dating back to the 1920's, Avon
Protection Systems' advanced products are the first choice for
Personal Protective Equipment (PPE) users worldwide and are placed
at the heart of many international defence and tactical PPE
deployment strategies. Our expanding global customer base now
includes military forces, civil and first line defence troops,
emergency service teams and industrial, marine, mineral and oil
extraction site personnel. All put their trust in Avon's advanced
respiratory solutions to shield them from every possible threat
whether land, air or sea based.
Our world-leading Dairy supplies business and its Milkrite |
InterPuls brand has a global market presence. With a long history
of manufacturing liners and tubing for the dairy industry, we have
become the leading innovator and designer for products and services
right at the heart of milking. The acquisition of InterPuls in
2015, a specialist in electro-mechanical milking components, such
as pulsators, milk meters, automatic cluster removers and milking
clusters, has added significantly to our product range, making us
the complete milking point solutions provider improving every farm
we touch.
Working with leading scientists and health specialists in the
global dairy industry, we continue to invest in technology to
further improve the milking process and animal welfare. Our
products provide exceptional results for both the animal and the
milker, making the milk extraction process more efficient. As our
market share and milking experience continue to improve, so does
our global presence.
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
TSTEAPAFEEEXEFF
(END) Dow Jones Newswires
February 02, 2017 02:00 ET (07:00 GMT)