Avon Rubber - Protection is the name of the game
The benefits of the three-pronged growth strategy are reflected in Avon Rubber’s H121 performance, which delivered strong overall growth in revenues and adjusted group profitability driven by a strong initial contribution from Team Wendy. The outlook for FY21 is maintained by management, which expects to meet market consensus expectations for adjusted PBT with the anticipated second-half weighting of revenues, despite the adverse impact of FX on costs. Strong order intake and backlog underpin medium-term prospects for further growth. The FY22 P/E of 23.1x represents a c 60% premium to UK defence peers, reflecting the strong growth expectations.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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