Strong sterling taking toll on Avon Rubber

Melksham, UK – Avon Rubber plc has warned that the continued strength of sterling against the dollar will impact its results for the current financial year.

If exchange rates remained unchanged for the rest of the year, Avon expects the currency factor to reduce revenue and adjusted operating profit by 8%.

This compares to previously forecast reductions in sales and earnings of around 3%, the UK maker of rubber-based products noted in a 1 Feb trading update.

The group’s share price dipped by around 1% on the London…

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