Full Year Trading Update

RNS Number : 4348O

Avon Rubber PLC

11 October 2012

 



Strictly embargoed until 07:00 Thursday 11 October 2012

AVON RUBBER p.l.c. ("Avon", the "Group" or the "Company")

Full-year trading update for 2012

Avon is pleased to report that trading in the second half of the financial year was, as expected, stronger than in the first half and  that consequently the Board is confident that the Group's full year results for the year ended 30 September 2012 will be in line with current market expectations.

We enter the new financial year with a strong order book in Protection & Defence, while in our Dairy business innovative new products and expanding global reach continue to deliver gains in market share.

Net debt at the year end was £8.7m, a result of strong operational cash conversion which allowed the Group to fund investment in product development, in particular Project Fusion, which remains on track.

Preliminary results will be announced on 21 November 2012.

Chief Executive Peter Slabbert commented, "We continue to invest in innovative new products in both Protection & Defence and Dairy and believe that these industry leading technologies will deliver revenue growth and higher margins in the future. The uncertain economic climate will present challenges in the coming year but I am confident that both sides of Avon's business are well positioned to make further progress in 2013."

For further enquiries, please contact:

Avon Rubber p.l.c.
Peter Slabbert, Chief Executive	01225 896831
Andrew Lewis, Group Finance Director	01225 896830
Miles Ingrey-Counter, Company Secretary	01225 896850
Weber Shandwick Financial
Nick Oborne	020 7067 0700
Stephanie Badjonat	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 world's 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 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

 

END

 

 

MSCEAKEEFSEAFFF