Melksham, UK – Following two years of M&As and portfolio streamlining, Avon Rubber plc is still in acquisition mode having delivered a strong first half.
Adjusted earnings (EBITDA) was up 33% at $24 million (€20 million), on 41% higher sales of $122 million, Avon Rubber reported 25 May.
Orders received totalled just under $168 million, up 46.5% year-on-year, reflecting “strong momentum” across the group’s portfolio of life critical personal protection systems.
Avon said its strategic move in 2020 to shift focus on life critical personal protection systems helped it deliver growth in orders and revenues.
In particularly, the manufacturer saw significant growth in respiratory protection from both military and first responder customers, according to CEO Paul McDonald.
With a $157-million order book, McDonald said his company was "confident of delivering full year expectations and remain excited by the medium-term prospects.”
“We will continue to explore further acquisition opportunities where we see potential to deliver significant strategic and financial value against our clear criteria,” he noted.
In addition, with the shift in its portfolio, the UK group is planning to change its name to Avon Protection plc during the second half of the year, McDonald added.