REG - Avon Protection PLC - Order announcement and trading update

Avon TechnologiesAnnouncement

07/09/2022 07:00

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RNS Number : 5160Y  Avon Protection PLC  07 September 2022

7 September 2022

Avon Protection plc

("Avon Protection" or "the Group")

Order announcement and trading update

Avon Protection today provides the following order announcement and a brief
update on trading in the second half of its financial year ending 30 September
2022.

The Group is pleased to announce the receipt of an order for c.380,000 pairs
of M61 filters worth $15.1 million from the U.S. Department of Defense.
Deliveries under this order are expected to commence in early FY23.

Trading in the second half of FY22 has improved in line with management's
expectations as set out at the half year results in May. This is due to a
modest improvement in mix in our respiratory portfolio and the commencement of
body armor deliveries following achievement of full FAT approval, which
partially offset the negative headwinds seen in H1. In addition, cost
reduction activities continue to progress as expected. Overall, performance
for the year on an excluding armor basis is predicted to be at least in line
with market expectations.

Following Paul McDonald's decision to step down as CEO at the end of
September, which was announced in May, the Group can confirm that the search
for his successor is making good progress.

 

For further enquiries, please contact:

 Avon Protection                                            +44 1225 896 848
 Paul McDonald, Chief Executive Officer

 Rich Cashin, Chief Financial Officer

 Rory Wiltshire, Investor Relations Manager

 

 MHP Communications  +44 771 003 2657
 Andrew Jaques       avonprotection@mhpc.com

 Charlie Barker

 Pete Lambie

 

Legal Entity Identifier: 213800JM1AN62REBWA71

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
("MAR") EU no.596/2014. Upon the publication of this announcement via
Regulatory Information Service ("RIS"), this inside information is now
considered to be in the public domain.

Note to editors:

Avon Protection designs and produces life-critical personal protection
solutions for the world's militaries and first responders. With a portfolio
that includes Chemical, Biological, Radiological, Nuclear ("CBRN"),
respiratory and head protection products, our mission is to enhance the
performance, efficiency and capability of our customers whilst providing ever
increasing levels of protection.

Avon Protection operates from six sites employing approximately 1,000 people
and is listed on the London Stock Exchange (LSE: AVON).

For further information, please visit our website www.avon-protection-plc.com

 

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