Update: Performance ahead on profit and cash
Avon Rubber’s pre-close statement suggests our outperformance thesis continues to hold, with the group announcing that it expects results to be comfortably ahead of market forecasts. This has largely been driven by the receipt and delivery of a Middle Eastern Protection & Defence order, benefiting the mix and highlighting the strategic flexibility of the group. In addition, with Dairy ahead of last year driven by Cluster Exchange, the group continues to demonstrate that its multi-pronged strategy is paying off. With strong underlying operating cash conversion supplemented by accelerated payments from a major customer, the group is now in a net cash position, some two years ahead of our forecast.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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