30th Sep 2013 14:47
LONDON (Alliance News) - Avon Rubber PLC Monday said that it expects its full-year adjusted operating profit to be ahead of market expectations, driven by a strong final quarter from its protection and defence division.
In a pre-close trading update, the engineering group specialising in respiratory protection, defence and dairy markets, said that trading in its protection and defence division was boosted by additional non-US Department of Defense orders, received from the UK Government, and customers in the Middle East.
Avon Rubber also said that its dairy division has been trading in line with market expectations, and its new cluster exchange service has been successfully launched in the Californian market.
"This brings 2013 to a positive conclusion and the recently announced order for 52,000 C50s and filters will allow us to continue that positive momentum into 2014," said Chief Executive Officer, Peter Slabbert, in a statement.
Avon Rubber is expected to release its full year results on November 20.
The company shares were up 3% or 16.00 pence, trading at 550.00 pence per share Monday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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