04 May 2016
Solid progress in subdued markets
Avon Rubber made solid progress in H1 16, reporting 5% growth in both sales and adjusted PBT despite soft conditions in its Dairy market and an absence of high margin export orders in Protection & Defence (P&D). Adjusted diluted EPS grew by 29% due to a one-off tax benefit, accompanied by a 30% increase in H1 DPS. Meanwhile healthy cash generation drove a c.£5m reduction in net debt even after the acquisition of Argus in October. Management expects to meet consensus expectations for FY16 and we ....
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Solid progress in subdued markets
Avon Protection PLC (AVON:LON) | 1,082 64.9 0.6% | Mkt Cap: 327.4m
- Published:
04 May 2016 -
Author:
Jo Reedman -
Pages:
6
Avon Rubber made solid progress in H1 16, reporting 5% growth in both sales and adjusted PBT despite soft conditions in its Dairy market and an absence of high margin export orders in Protection & Defence (P&D). Adjusted diluted EPS grew by 29% due to a one-off tax benefit, accompanied by a 30% increase in H1 DPS. Meanwhile healthy cash generation drove a c.£5m reduction in net debt even after the acquisition of Argus in October. Management expects to meet consensus expectations for FY16 and we ....