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
December 03, 2020 08:05 AM

Acquisition lifts Avon results, 2021 set for growth

ERJ Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Melksham, UK – Avon Rubber plc has posted strong growth for the year ended 30 Sept, helped by its recent acquisition of 3M’s ballistic helmets and armour business in January this year.

    Revenue for the full year grew 30.8%, to £168 million (€186 million), comprising 0.1% organic constant currency growth, 1% currency headwind and a 31.7% contribution from the helmets and armour segment, the UK rubber goods manufacturer announced 2 Dec. 

    Adjusted operating profit was up 33.6%, at £30.2 million, reflecting strong organic trading performance and the positive impact of the US acquisition. Adjusted earnings per share rose to 13.8%.

    "2020 has been a year of both significant strategic evolution and strong organic execution for Avon Rubber,” said chief executive Paul McDonald.

    The company, he said, delivered “strong results ahead of expectations” and is in the midst of a transformation to become a “leading provider of life critical personal protection products.”

    Avon, which divested dairy equipment unit milkrite | InterPuls in late September, has been investing in expanding its product portfolio in the protection segment. 

    “This has enabled us to build a broader and more visible long-term contract portfolio to position the business to deliver further growth in 2021 and beyond,” McDonald noted.

    For the 2021 fiscal year, Avon said it would remain focused on life critical personal protection business with “leading positions” in respiratory and ballistic protection.

    The company said it had a strong opening order book of $101.7 million (€84 million), which it said provides “excellent visibility and confidence for 2021.” 

    In addition, the manufacturer expects momentum to continue into 2021 for its 'first responder' products, designed for law enforcement customers.

    In the medium-term, Avon said the outlook is underpinned by multi-year military contracts across the portfolio.

    RECOMMENDED FOR YOU
    GRI launches phase 2 of $100m speciality tire project
    GRI launches phase 2 of $100m speciality tire project
    India decides against extending carbon black duties
    India decides against extending carbon black duties
    ANRPC upgrades forecasts for rubber supply and demand
    ANRPC upgrades forecasts for rubber supply and demand
    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. All rights reserved.
    Contact Us European Rubber Journal, Crain Communication LTD, Ground Floor 11 Ironmonger Lane, London EC2V 8EY, UK

    Customer Service:
    1-313-446-0450

    Resources
    • About us
    • Contact Us
    • Staff
    • Advertise with Us
    • Media Kit
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
    • Technology Focus
      • Features
      • Technical Papers
    • Events
      • ERJ Events
      • ERJ Livestreams & Webinars
      • Industry Events
    • Maps & Reports
    • People
    • Directory
    • Digital Edition
    • Brainiac