Pre-tax profits at specialist Wiltshire manufacturer Avon Rubber have risen by 43% after it won a series of major orders.
The Melksham-based group, whose products span respirators for the army and emergency services to equipment for the dairy industry, said recent investment in new technology and products had also contributed to the 43% profits rise in the six months to March 31. Group revenues climbed by 3% to £61.5m.
Trading in Avon Rubber’s protection & defence division – its largest – benefitted from its strategy of increasing sales of higher-margin products to customers other than the US Department of Defense.
Shipment of export orders was brought forward to the current financial year while trading in the second half will benefit from the delivery of the group’s largest-ever individual US commercial order for Homeland Security products, worth £4m, which was received in the second quarter,
Chief executive Peter Slabbert said: “Our strategy of diversifying into broader protection and non-US defence markets has resulted in growth.
“The improvement in the dairy market reported earlier this year has been maintained. Together these have produced strong growth in the first half of the year and support the board’s confidence that the group can continue to make progress in the second half of the financial year.”
More on this story follows later . . .