LONDON (May 2, 2012)—Avon Rubber P.L.C. reported steady financial growth in the first half ended March 31, with increases in sales and profits increasing in its military and dairy businesses.
The company said it posted a 3.3-percent increase in sales for the six months, to $80.2 million, and operating profits climbed 4.5 percent to $6 million.
The firm's protection and defense business is benefitting from a long-term U.S. Department of Defense contract, and increased market share in the U.S. homeland security and foreign military markets, said Avon Chief Executive Peter Slabbert. That division had a 1.5 percent rise in sales to $43.6 million.
The dairy business is well-positioned for growth, Slabbert said. The operations posted a 7-percent increase in sales for the six months.