Skip to main content
Sister Publication Links
  • Rubber & Plastics News
Subscribe
  • My Account
  • LogIn
  • News
  • Technology Focus
    • Features
    • Technical Papers
    • Analysis: Rubber mixing plants of the future
      Analysis: US probes dumping by ESBR suppliers
      Opinion: Tire labels stuck in a rut
      Analysis: NR pricing takes one step forward, two steps back
    • White paper: Role of tire innerliners in improving 'in-use rolling resistance'
      White paper: Why tire air retention matters now more than ever
      Nippon Soda: Use of 1,2-polybutadiene in CSM rubber applications
      Elastomers for Sustainability Top 10
  • Events
    • ERJ Events
    • ERJ Livestreams & Webinars
    • Industry Events
    • Journey to Automation Awards 2020
      Sustainability: Top 10 E4S projects table
  • Maps & Reports
  • People
  • Directory
  • Digital Edition
  • Brainiac
MENU
Breadcrumb
  1. Home
  2. News
May 03, 2018 12:00 AM

Acquisitions on the radar for buoyant Avon Rubber

Patrick Raleigh
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    The Melksham, UK-based group reported an 18.9% year-on-year rise in operating profit from continued operation, to £9.9 million (€11.2 million), on first-half sales of £77.7 million – 5.9% higher than a year ago.

    The gains over the six months to 31 March reflected increased demand for Avon Protection’s ‘law enforcement’ products, positive military order intake and growth in the farm services market, Avon reported 2 May.

    “We have delivered strong financial results, with underlying performance more than offsetting currency headwinds, whilst continuing to build the order book,” said CEO Paul McDonald.

    Avon’s boss also linked the performance to strategic actions being implemented by the group in its core markets.

    “Building on this platform, and with the momentum from our expanding product portfolio, the board remains confident on delivery of its current year expectations and is excited by the medium-term prospects for the group,” said McDonald.

    In its interim report, Avon highlighted a £4.4-million investment programme in R&D projects during the first six months of the year as well as its divestment of AEF, a US based manufacturer of hovercraft skirts and bulk liquid storage tanks.

    “Our strengthened balance sheet will enable us to execute on these acquisition opportunities where our commercial and financial criteria are met.”

    Backing the positive outlook, Fiona Cincotta, senior market analyst at CityIndex said Avon’s status as the sole gas mask contractor to the US department of defence gives it an enviable market position, especially amid current terrorist threats and conflict in the Middle East.

    “Demand from both military and law enforcement agencies is reflected in a very strong order book, positioning Avon well to keep the earnings momentum going into the second half,” said Cincotta.

    RECOMMENDED FOR YOU
    Conti rubber business reports double-digit declines, expects recovery in ‘21
    Conti rubber business reports double-digit declines, expects recovery in ‘21
    Top Glove reports four-digit rise in profits as demand soars
    Top Glove reports four-digit rise in profits as demand soars
    EU plastics sector facing ‘serious’ raw material shortages
    EU plastics sector facing ‘serious’ raw material shortages
    Free Newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Get the latest news impacting the European rubber industry, from breaking news to razor-sharp analysis, in print and online.

    Subscribe now
    Connect with Us
    • LinkedIn
    • Twitter
    • Youtube

    Logo
    Contact Us

    @ 2019 European Rubber Journal. 
    European Rubber Journal is published bi-monthly by NUERJ Ltd.

    Registered Office: Castle House, 89 High Street,
    Berkhamsted, Hertfordshire HP4 2DF, United Kingdom. 

    Tel. + 44 (0)203 196 0141 

    Registered No. 13104613 England

    Email: [email protected]

    Website www.european-rubber-journal.com

    Customer service 

    Tel. + 44 (0)203 196 0141 

     

    Resources
    • About us
    • Contact Us
    • Advertise with Us
    • Media Kit
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 2021. NUERJ LTD. All Rights Reserved.
    • News
    • Technology Focus
      • Features
      • Technical Papers
    • Events
      • ERJ Events
      • ERJ Livestreams & Webinars
      • Industry Events
    • Maps & Reports
    • People
    • Directory
    • Digital Edition
    • Brainiac