Avon Rubber’s AGM update has highlighted a positive start to the year, with trading in line with management’s expectations. Both Protection and Dairy are performing well, with good growth in orders. While organic growth is as expected, the continued strengthening of sterling against the dollar will negatively impact reported results, with updated guidance of a 5% negative swing vs previous expectations. Meanwhile changes to US tax will provide a benefit, with a c.14% tax rate now expected for FY ....
01 Feb 2018
Solid underlying, changes due to FX and tax
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Solid underlying, changes due to FX and tax
Avon Protection PLC (AVON:LON) | 1,209 -411.1 (-2.8%) | Mkt Cap: 365.8m
- Published:
01 Feb 2018 -
Author:
Jo Reedman -
Pages:
3
Avon Rubber’s AGM update has highlighted a positive start to the year, with trading in line with management’s expectations. Both Protection and Dairy are performing well, with good growth in orders. While organic growth is as expected, the continued strengthening of sterling against the dollar will negatively impact reported results, with updated guidance of a 5% negative swing vs previous expectations. Meanwhile changes to US tax will provide a benefit, with a c.14% tax rate now expected for FY ....