Avon Protection PLC (LSE:AVON) shares fell 1.3% to 937.8p after the company reported a 36% rise in order intake in the first quarter of its financial year, with strong demand for helmets and rebreathers offsetting a small decline for respirators.
The order book was 21% higher than the prior year and revenues were up 27%, which the FTSE 250-listed group said was in line with its expectations.
Cash conversion was said to be "very strong".
Back in November, the company's results for 2023 showed a fall in order intake and a slump in revenues and profits but management was confident sales would grow again in 2024.
In the statement provided ahead of its annual shareholder meeting today, Avon said the improvement in revenue reflected successful delivery of next-generation ballistic helmets to the US Department of Defence (pictured) and "robust demand" for helmet foam pads and commercial helmets.
It expects to start delivering efficiency improvements in the second half of the year, along with the start of deliveries of second-generation Advanced Combat Helmets to the US, for which a follow-on order was confirmed earlier this week.
A facility in Irvine, California is to be closed by the summer of 2025, with this expected to "significantly improve competitiveness and financial performance" from 2026 onward.