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Avon Protection notes strong quarterly orders thanks to higher demand

26th Jan 2024 14:03

(Alliance News) - Avon Protection PLC on Friday left its full-year guidance unchanged, following a jump 36% quarterly jump in order intake.

The Wiltshire, England-based personal protection equipment company updated shareholder ahead of Friday's annual general meeting.

For its first quarter ended December 31, order intake was 36% higher than the prior year. It said that this reflects "strong demand" for helmets and rebreathers.

The order book was 21% higher than the prior year.

Year-on-year revenue growth of 27% was in line with its expectations.

Looking ahead, Avon Protection left its financial 2024 guidance unchanged.

Chief Executive Officer Jos Sclater said:"After a year of strengthening the business, we are now focused on our objectives of creating a competitive advantage through superior execution, growing faster than our markets by delivering new and improved products to our customers, and increasing margins through our transformation programme. While there remain a number of opportunities and risks for us to navigate in the year ahead, I am pleased to see the results start to reflect the strategic and operational progress we are making."

Avon Protection will report its half year results for the six months ending March 31 on May 21.

Shares in Avon Protection were up 1.1% to 960.00 pence each in London on Friday afternoon.

By Sophie Rose, Alliance News senior reporter

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