Avon gains as Sterling drops

Melksham, UK – Avon Rubber plc has benefited from the post-Brexit depreciation of Sterling, posting a 6% growth in full year 2016 revenue to £142.9 million (€166.2 million), the group reported 16 Nov.

Sales at Avon’s Protection & Defence segment rose 2% to £100.9 million and Dairy by 18% at £42.0 million. Earnings (EBITDA), meanwhile, rose 13% to £30.8 million and operating profit rose 8% to £21.8 million.

avon-results- breakdown-16Currency effects translated to an increase of £9.4 million…

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