Wiltshire-based Avon Technologies is one of the world's top manufacturers of gas masks, ballistic helmets and deep water rebreathers to global militaries and police forces, supplying gas masks and bullet proof helmets to the US and UK armed forces and to the Armed Forces of Ukraine.
The Group delivered revenue of $313.9 million, up 14% year-on-year, with adjusted operating profit increasing to $40.3 million and a record closing order book of $262.8 million, up 17%. These strong results reflect continued operational progress and disciplined execution, positioning the business ahead of its medium-term targets.
Jos Sclater, Chief Executive Officer, commented:
“Nearly two years ago, we set bold ambitions for the business, which could only be achieved by significant change. This year, in particular, required enormous tenacity and dedication from our employees. That effort is paying off. Adjusted EPS has grown by over 100% since 2023, the balance sheet now provides a strong foundation and strategic optionality, and we’ve launched several exciting new products which will support future growth.
As we near the completion of the first phase of our strategy, our shift to a continuous improvement culture is delivering real results and has been fundamental to dramatically increasing the production run rate within Team Wendy and expanding our market share in Avon Protection.
We are now a stronger business with more growth opportunities than ever, underpinned by disciplined investment and relentless operational improvement. None of this would be possible without our exceptional team, and I’m deeply grateful for their hard work and commitment.”
Since launching the turnaround plan in late 2023, Avon Technologies has focused on simplifying operations, enhancing manufacturing efficiency, and driving greater returns from existing assets. This bottom-up transformation is now delivering sustained performance and value creation, with the share price more than doubling since, taking the company back in to the FTSE 250.
How to resolve AdBlock issue?