Flash note: Tracking to plan
Avon Rubber’s AGM update highlighted that trading has tracked to plan. With Protection & Defence focused on deliveries to the US DoD following the high level of exports in H114, we expect a well-flagged bias in operating profits to H2. The overall strategy continues, with a high level of export quote activity and further progress in the fire market with strong interest in the Deltair SCBA. Likewise, momentum in Dairy has continued driven by the Cluster Exchange service take up, while the Brazilian sales and distribution facility is up and running. With strong cash generation, we believe Avon has the balance sheet to pursue its growth strategy as highlighted in our July 2014 note.Avon Rubber is a technology group focusing on respiratory protection systems and milking point solutions through its two businesses, Avon Protection and milkrite , InterPuls. Avon Protection is a provider in Chemical, Biological, Radiological and Nuclear respiratory protection systems for the world's Military, Law Enforcement and Fire markets. milkrite , InterPuls provides milking point solutions to customers across the world.
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