LONDON (May 4, 2011)—Avon Rubber saw profits rise on lower revenues in the six months to March 31. The company saw revenue down by almost 18 percent to $78.6 million compared with about $93.2 million a year earlier.
Operating profits increased, however, to $7.9 million from $6.7 million. Pre-tax profits also increased to $7.3 million from $4.8 million a year earlier.
Avon said its protection and defense business has benefited from increased non DoD orders. The division's operating profit and return on sales improved despite the unhelpful impact of the U.S. budget impasse, the recent resolution of which should result in a stronger second half.