Avon Rubber PLC (LON:AVON) posted strong first-half sales growth helped by orders from the military and first responder healthcare demand.
The group, which specialises in breathing equipment, said orders rose by 46% in the half-year to end March 2021, with military up by 31%, first responder 28% and a first-time contribution worth US$18mln from recent acquisition Team Wendy.
Military orders included US$38mln from NATO and a US$17mln follow-up on the M69 aircrew mask contract with the US Department of Defense.
Paul McDonald, chief executive, added: “We are making good progress to resolve the delays in product approval for our body armor programmes and remain on track to commence shipments in the first half of our 2022 financial year.
“Given the US$157m order book and strong pipeline of opportunities across our personal protection portfolio, we are confident of delivering full-year expectations and remain excited by the medium-term prospects.”
Revenue in the six months to end March 2021 rose 41% to US$122mln, with adjusted profits up by 23% to US$16mln. Pre-tax profits were US$5.4mn (US$1.8mln loss).
Avon Rubber added it intends to change its name to Avon Protection in the second half of the year.
Shares dropped 4% to 3,128p.