Avon Rubber advances in third quarter

ERJ staff report (DS)

London -- Avon Rubber PLC has issued a brief statement describing its business performance in the period to 17 August 2011. The comapny said it experienced an improved financial performance over the comparative period last year, in line with the Board's expectations.

In the Protection & Defence segment, Avon said, "Following completion of deliveries under the existing filter spares contract, a further three year Indefinite Delivery Indefinite Quantity ("IDIQ") filter spares contract has been agreed with the US Department of Defence ("DoD"). This has a total potential value of $38m and we have received an initial order valued at $11m which we expect to fulfill in this financial year"

In the Dairy segment, Avon said, "The market for our dairy products has been robust during the period under review and while input costs have remained volatile, we have been able to pass these through to customers. Our margin enhancing IPMV vented liner continues to gain an impressive market share in the US."

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Press release from Avon Rubber