Interim Management Statement

RNS Number : 5235J

Avon Rubber PLC

08 August 2012

 



Strictly embargoed until 07:00 Wednesday 8 August 2012

AVON RUBBER p.l.c. ("Avon", the "Group" or the "Company")

INTERIM MANAGEMENT STATEMENT FOR THE PERIOD FROM 1 APRIL 2012 TO 7 AUGUST 2012

Protection & Defence

In Protection & Defencethe full yearorder intake for the Division is expected to be 38% up on the previous year and with a significant element of this for delivery in future years, we have improved visibility of revenues from both the DoD and commercial customers for 2013.

Orders in hand from the US Department of Defense (DoD) will allow us to deliver similar volumes of the M50 respirator in the second half of our 2012 financial year to the first half of the year. As expected we have seen an acceleration in the delivery of spare filters to the DoD since the half year, albeit the overall level of filter orders will be below that of the previous year.  We expect filter demand to grow as more mask systems are delivered although customer scheduling of filter deliveries remains difficult to predict.

Project Fusion, our new program to expand and enhance our product range, remains on track to provide further organic growth from 2013/4.

Dairy

In Dairy we have seen further growth in sales of our Milk-Rite brand, in particular the Impulse Mouthpiece Vented Liner. Our sales and distribution centre in China is progressing well, in line with expectations.

Net debt

The Group's balance sheet remains robust. Net debt at 30 June 2012 was £10.2m (30 September 2011: £11.8m) reflecting the timing of working capital movements and the significant investment made in product development during the year.   

Outlook

The  business as a whole has progressed further in this period with continued investment in product development and our brands and distribution channels.  With improved operational performance from Protection & Defence and  the Dairy business performing strongly, we continue to expect that the results for the second half of the year will be stronger than the first half with year on year growth comparable with the level seen during the first half. 

For further enquiries, please contact:

Avon Rubber p.l.c.
Peter Slabbert, Chief Executive	01225 896870
Sarah Matthews-DeMers, Group Financial Controller	01225 896835
Miles Ingrey-Counter, Company Secretary	01225 896850
Weber Shandwick Financial
Nick Oborne	020 7067 0700
Stephanie Badjonat	020 7067 0700

NOTES TO EDITORS: Avon Rubber p.l.c. is a world leader in the design, test and manufacture of advanced Chemical, Biological,Radiological and Nuclear (CBRN) respiratory protection solutions to the worlds military, law enforcement, first responder,

emergency services, fire and industrial markets. Avon has a unique capability in CBRN protection based on a range of advanced

CBRN technologies in respirator design, filtration and compressed air breathing apparatus. This enables Avon to develop specialised

solutions that take full account of user requirements. Avon also owns a world leading dairy business manufacturing liners and

tubing for the automated milking process. For further information please visit the Group's website www.avon‐rubber.com

 

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