Search Follow us


1 - 12 of 81
Sort by: popularity | newest
Page  2 3 4 5 6 7  of 7 | Next
Avon Rubber

Encouraging FY17 prospects across the group

Flash note | Aerospace & Defence | 09 Sep 2016

Avon Rubber has confirmed that despite difficult market conditions, trading in the year to September is expected to be in line with market expectations. Encouragingly, prospects for Protection & Defence remain strong and in Dairy milk prices appear to have started to recover during the final quarter. The statement should allay any concerns that major orders only originate in the Middle East, with the announcement of a $9m order for a US police department. Encouragingly negotiations are continuing with respect to the significant Middle East export potentials. The outlook for accelerating growth in 2017 appears to be increasingly underpinned.

Avon Rubber

Protection of growth

Flash note | Aerospace & Defence | 31 Jan 2019

The trading update released with the AGM indicates that growth in Avon Protection is continuing to offset challenging conditions for milkrite | Interpuls in dairy markets. As a result, management’s expectations for the full year are maintained and our group estimates are unchanged. The shares trade on a modest FY20 P/E premium to defence peers, which we feel is warranted by higher margins and growth in cash flow and EPS.

Avon Rubber

M69 aircrew mask systems success

Flash note | Aerospace & Defence | 07 Jan 2019

Avon has announced that it has been awarded a sole source contract to supply the US Department of Defense (DoD) with M69 Joint Service Aircrew Mask Systems for Strategic Aircraft with a maximum value of $92.7m over up to seven years. As flagged at the FY18 results, it is a significant contract for Avon Protection’s military activities and should make an initial revenue contribution in FY19 once the first order is received in the near future. Using our estimates, Avon is trading on a FY20 P/E of 14.6x, a justifiable premium to its aerospace and defence peer group given its above average margins and improving growth prospects.

Avon Rubber

Continuing to deliver

Update | Aerospace & Defence | 14 Nov 2018

Avon Rubber’s FY18 report demonstrates the success of the new business strategy, delivering growth across both divisions. The product portfolio has been updated and the company is winning contracts in new geographies. The company has also taken action to address its business structure and production footprint. We see continued opportunity for organic growth supported by selective bolt-on acquisitions.

Avon Rubber

Delivering growth

Update | Aerospace & Defence | 14 Sep 2018

Avon Rubber’s pre-close trading statement demonstrates the underlying growth in both divisions. Success continues to flow from the enhanced product portfolio and order progression is building visibility. We have made modest changes to our forecasts to reflect currency and the Merrick’s acquisition.

Avon Rubber

More M50s

Flash note | Aerospace & Defence | 17 Jul 2018

Avon Rubber has announced another M50 order in the final year of the 10-year sole-source contract with the US Department of Defense (DoD). This order underpins FY18 and FY19 expectations and we make no changes to our forecasts. However, Avon is in advanced negotiations with the US DoD on future programmes, which fit comfortably with its growth strategy.

Avon Rubber

Momentum builds behind new strategy

Outlook | Aerospace & Defence | 02 May 2018

Avon Rubber’s H118 report demonstrates the strength of the group’s new strategy in action. Success is evident in the enhanced product portfolio and order progression is building visibility and supporting medium-term growth. Given the group’s exposure to the US, the FX headwind was visible in H118. Management maintained its guidance for FY18 underpinned by end market opportunities and new product deliveries.

Avon Rubber

Strategy continues to take shape

Flash note | Aerospace & Defence | 03 Apr 2018

This morning, Avon Rubber announced completion of the disposal of Avon Engineered Fabrications (AEF) for $9.25m. The company announced in its FY17 annual report that it was considering the strategic options for the business. We estimate that this deal should add c GBP 6m to cash at current exchange rates. Overall, the company’s threefold growth strategy remains in place and we are encouraged to see the actions management is taking.

Avon Rubber

Equipped for growth

Update | Aerospace & Defence | 15 Mar 2018

Avon Rubber’s Capital Markets Day highlighted the strength and depth of its product portfolio. Investment in both divisions has ensured that the company is able to address strong growth trends in its end-markets with attractive solutions. Avon Protection has received US regulatory approval for its Powered Air Purifying Respirator range, which should see further orders. Meanwhile, milkrite I InterPuls is offering solutions for productivity improvements to a dairy market increasingly open to technology.

Avon Rubber

Winning ways

Update | Aerospace & Defence | 15 Feb 2018

Following the nomination of preferred bidder status in November, Avon has announced that an agreement has been reached with the UK Ministry of Defence (MOD) for the General Service Respirator contract. The contract builds order visibility on both sides of the Atlantic while demonstrating the new strategy in action.

Avon Rubber

Strong start to the year

Update | Aerospace & Defence | 01 Feb 2018

Avon started FY18 with a new growth strategy and it is bearing fruit. Order growth is strong as the company is leveraging market dynamics across both divisions. We adjust our forecasts for the more favourable US tax reform, increasing underlying EPS by 7% and 1% in FY18 and FY19 respectively. Management is confident of achieving FY18 expectations.

Avon Rubber

Positive order progression

Flash note | Aerospace & Defence | 29 Jan 2018

Avon Rubber announced this morning an order for 47,000 M50 mask systems for the US Department of Defense (DoD) worth $12.6m. Following an M50 order from the US DoD in December last year, this order displays the momentum in the business while building order book visibility. Management’s new strategy is delivering.