ERJ staff report (DS)
London -- Avon Rubber saw profits rise on lower revenues in the six months to 31 March. The company saw revenue down by almost 18 percent to Â£ 48.0 million (euro 53 million) compared with around Â£ 56.5 million a year earlier.
Operating profits increased, however, to Â£4.81 million from Â£4.06 million. Pre-tax profits also increased to Â£4.4 million from Â£2.9 million a year earlier.
Avon said The Protection & Defence business has benefited from increased non DoD orders. The division's operating profit and return on sales improved despite the unhelpful impact of the US budget impasse, the recent resolution of which should result in a stronger second half.
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Press release from Avon Rubber