Avon Rubber looks to US defence spending boost
Avon Rubber, the one-time inflatable boat maker long since turned manufacturer of respiratory protection and cattle-milking said today (4 May) that it hoped to benefit from improvements in US defence spending.
Chief Executive Peter Slabbert said Avon had made good progress during the first half of 2011 and expected stronger sales to come now the US defence budget had been approved.
The Protection & Defence business had benefited from increased non US Department of Defense orders and the profitability of the dairy business had reflected better market conditions.
Delay in the approval of the US defence budget reduced sales for the half year to 31 March to £48m (2010: £56.5m) but pre- tax for the period grew to £4.4m (2010: £2.9m).
