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Interim Results

Avon Rubber profit rises

16 May 2017 08:11

Avon Rubber said revenue and underlying operating profit were up 22% and 21%.

Constant currency revenue and underlying operating profit rose 7% and 6%, while underlying cash from operations increased to £17m (2016: £14.7m).

The company reported strong growth in dividend by 30% to 4.11p (2016: 3.16p).

In Protection, there were significant opportunities for M53A1 respirators and aircrew XM69 programme in FY18. Dairy outlook remained positive and the Pulsator exchange service will be launched in the second half.

CEO Paul McDonald said: "The group has performed well in improved market conditions and I am delighted to present a good set of results which confirm the progress the Group has made over the last six months.

"I am confident the business is well positioned to deliver further growth and that there are additional opportunities to build a stronger business for the future."

At 8:11am: (LON:AVON) Avon Rubber PLC share price was +51.5p at 1116.5p

Story provided by StockMarketWire.com

Related Company: AVON

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