Edison Investment Research - Avon Rubber PLC (AVON) Milking the benefits

Report

Edison Investment Research

Alexandra West

Milking the benefits

Avon Rubber’s trading statement (2 February) was reassuringly upbeat with Dairy benefiting from a stronger milk price and the Protection & Defence division continuing to see encouraging order intake. International orders for Protection & Defence are progressing, although final timing remains unpredictable. Cash generation was particularly strong, due to receiving a large customer receipt on the last day of the quarter, giving the group a net cash position of £11.1m.

03/02/2017 2 EN

Underlying

Avon Rubber PLC

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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GB0000667013 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Alexandra West

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Milking the benefits

Avon Technologies (AVON LN) - Strong delivery but priced-in - HOLD

Avon Technologies (AVON LN) - Defence as a haven asset!? - HOLD

Avon Technologies (AVON LN ) - Good progress but valuation full - HOLD

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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