Shares in Avon Technologies PLC (LSE:AVON) wobbled in early trading after the maker of helmets and masks for the defence and security sectors kept its full-year outlook unchanged after some deliveries were delayed by the US government shutdown in the autumn.
The FTSE 250-listed group said its core Avon Protection business had seen a record first quarter, helped by orders for CBRN mask products, which are used in defence against chemical, biological, radiological and nuclear threats.
A healthy pipeline and order book are also expected to support performance through the rest of the year.
A slower start was experienced by Team Wendy, the US-based helmets division, as federal revenues were hit by the US government shutdown, pushing back product testing and deliveries.
Avon said the impact was likely to be temporary and forecast improved revenue and margins in the second quarter.
Chief executive Jos Sclater said: “We are making progress. 2026 will see an increased focus on the growth stage of our strategy. We are investing across key programmes and new products that will strengthen our competitive position.”
With interim results due in May, the group kept full-year guidance unchanged from November, when it predicted high single-digit revenue growth, an adjusted operating margin within 14-16%, more than 60% lower transformation costs at about $6 million, and cash conversion above 80% (before transformation costs).
Avon shares fell 1.5% in initial trading on Friday but soon righted themselves at 1,792p, up 4p on the morning.
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