Avon Rubber - Transformational year builds momentum
Avon delivered FY19 modestly ahead of market expectations, as foreshadowed in the September trading update. New US mask systems contracts drove healthy organic growth for Avon Protection and, while milkrite | InterPuls sales were essentially flat, a progressive recovery in dairy markets allowed it to make up the shortfall experienced in Q119. Both divisions are expected to carry the positive momentum into FY20, with margins expected to improve in both divisions. The proposed record acquisition of 3M’s ballistic protection assets should substantially enhance earnings, and this has driven the re-rating in recent months.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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