16 Nov 2016
N+1 Singer - Avon Rubber - FY16 profitability 4% ahead of expectations, strong cash generation
Avon Rubber has reported FY16 adjusted PBT growth of 9%, 4% ahead of our forecasts, along with strong cash generation that has returned the group to a net cash position. We anticipate making modest upgrades to our P&L forecasts but a more substantial upgrade to net cash. In our view growth prospects strengthen in FY17. Protection & Defence remains underpinned by its cornerstone US DoD contract for mask systems, complemented by growth opportunities for recently launched new products such as escap ....
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N+1 Singer - Avon Rubber - FY16 profitability 4% ahead of expectations, strong cash generation
Avon Protection PLC (AVON:LON) | 1,163 -232.6 (-1.7%) | Mkt Cap: 351.9m
- Published:
16 Nov 2016 -
Author:
Jo Reedman -
Pages:
4
Avon Rubber has reported FY16 adjusted PBT growth of 9%, 4% ahead of our forecasts, along with strong cash generation that has returned the group to a net cash position. We anticipate making modest upgrades to our P&L forecasts but a more substantial upgrade to net cash. In our view growth prospects strengthen in FY17. Protection & Defence remains underpinned by its cornerstone US DoD contract for mask systems, complemented by growth opportunities for recently launched new products such as escap ....