Turnover up as Avon Rubber remains “resilient”

Wednesday, 16th November 2016

Sourced from Insider Media News - follow link to original article

Turnover has grown at Melksham-based Avon Rubber with the listed manufacturer said to have remained “resilient in difficult market conditions”.

According to its results for the year to 30 September 2016, turnover grew to £142.9m from £134.3 in 2014/15.

Adjusted pre-tax profit was £21.6m, up from £19.8m the year before. However, statutory pre-tax profit dipped slightly to £16.8m from £17.8m.

Adjustments included the amortisation of acquired intangible and exceptional items related to acquisition integration costs.

Avon Rubber said it had successful integrated three acquisitions during the year; dairy technology business InterPuls, electronic control systems manufacturer Hudstar and thermal imaging camera business Argus.

Rob Rennie, chief executive, said: “Avon’s strategy has delivered strong earnings growth and cash generation. Our business has proved to be resilient in difficult market conditions and we exit the year a more robust business with a range of good opportunities for growth.”

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