8th Feb 2024 15:44
(Alliance News) - Avon Protection PLC on Thursday laid out what it called "ambitious" medium-term goals but its plans failed to enthuse the market.
Shares in Avon Protection fell 4.5% to 844.93 pence in London on Thursday.
The Wiltshire, England-based personal protection equipment company listed five medium-term financial targets.
Avon is targeting a compound annual growth of 5% in revenue, an operating margin of 14% to 16%, a return on invested capital above 17%, cash conversion of 80% to 100% and leverage of 1 to 2 times net debt or adjusted earnings.
Avon Protection made the update ahead of a Capital Markets Event for analysts and institutional investors in London on Thursday.
The event will be hosted by Chief Executive Jos Sclater and Chief Financial Officer Rich Cashin, with presentations from Avon's divisional presidents and transformation team.
The presentations will be followed by a technology showcase with presentations and demos from Avon's technology leaders.
Avon said the presentations would include a concrete plan to deliver improved returns and high cash flow through implementation of four transformation programmes; footprint optimisation, operational excellence, commercial optimisation, and functional excellence.
By Jeremy Cutler, Alliance News reporter
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