Profits marginally up at Avon Rubber on level sales

ERJ staff report (DS)

London - For the 12 months to September 2012, Avon Rubber plc has reported operating profit and revenues essentially unchanged from the previous year.

The company said revenues fell marginally to GBP 106.6 million (euro 132 million) from GBP 107.6 million a year earlier. Operating profit increased to GBP 11.6 million from GBP 11.1 million

By division, Protection & Defence represented 70% (2011: 72%) of total Group revenues. The business saw revenues fall 3.7% from £77.4m to £74.6m due to the timing of receipt of filter orders from the DoD. In 2011 we delivered approximately 1m pairs of filters and in 2012, 520,000 pairs. This offset a rise in the number of mask systems delivered which increased to 193,000 in 2012 from 143,000 in 2011. Operating profit remained at £7.5m (2011: £7.5m) and EBITDA was £11.6m (2011: £11.6m), representing a return on sales of 15.6% (2011: 15.0%) and reflecting our improved operational performance.

The Dairy business has continued to grow with revenues increasing by 6.3% to £32.1m (2011: £30.2m) and operating profit increasing by 8.9% to £6.0m (2011: £5.5m). EBITDA was £6.5m (2011: £5.9m), giving a return on sales of 20.3%, up from 19.6% in 2011.

The company also announced the appointment of Richard Wood has been appointed as a non-executive Director of the Company with effect from 1 December 2012. Wood is the former Chief Executive and Director of Genus PLC, having stepped down with effect from 30 September 2011.

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Press release from Avon Rubber (results)

Press release from Avon Rubber (Non-exec director)