Avon Rubber PLC AGM Statement (4276D)
January 29 2015 - 2:01AM
UK Regulatory
TIDMAVON
RNS Number : 4276D
Avon Rubber PLC
29 January 2015
Strictly embargoed until 07:00 Thursday 29(th) January 2015
AVON RUBBER p.l.c. ("Avon", the "Group" or the "Company")
Annual General Meeting - trading update for the quarter ended 31
December 2014
Avon is pleased to report that trading in the first quarter of
the financial year has continued in line with the Board's
expectations.
Protection & Defence
In Protection & Defence, after delivering a high level of
non-DOD orders during the 2014 financial year, mask systems
production has, as planned, been focused on fulfilling deliveries
to the DoD under our 10 year sole source contract for the JSGPM M50
mask. This is likely to continue for the remainder of the first
half year.
Encouragingly, there is a high level of quotes out for our
higher margin export military masks although, as always, the timing
of order receipt remains unpredictable. We have seen year on year
growth in our fire service products in the first quarter and the
level of enquiries for our new Deltair SCBA have been strong. Our
flexible fabrications business, AEF, has secured orders which will
sustain production into the second half of the financial year.
Dairy
The positive momentum generated in the second half of 2014 in
the Dairy business has continued and trading has been extremely
strong in the first quarter. Take up by farms of the innovative
Cluster Exchange service remains at encouraging levels in both
North America and Europe.
We have also set up a sales and distribution facility in Brazil
to service the Brazilian and wider South American dairy market.
Balance sheet
The Group continues to be strongly cash generative. Net cash at
31 December 2014 was GBP6.4m (30 September 2014: GBP2.9m).
For further enquiries, please contact:
Avon Rubber p.l.c.
Peter Slabbert, Chief Executive 01225 896831
Andrew Lewis, Group Finance Director 01225 896830
Sarah Matthews-DeMers, Group Financial Controller 01225 896835
Weber Shandwick Financial
Nick Oborne 020 7067 0700
Note to editors: The Group has transformed itself over the past
five 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 UK, serving markets around the world. We
achieve this through nurturing the talent and aspirations of our
employees to realise their highest potential.
Avon Protection is the recognised global market leader in
advanced Chemical, Biological, Radiological and Nuclear (CBRN)
respiratory protection systems technology 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's 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.
Our world-leading Dairy business and its Milkrite brand have a
global market presence. With a long history of manufacturing liners
and tubing for the dairy industry, Milkrite has become the leading
innovator and designer for products and services right at the heart
of milking. Our goal is always to improve and maintain animal
health. Working with the 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 run smoothly. As our
market share and milking experience continue to grow, 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
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