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November 19, 2015 01:00 AM

Avon's income, revenues climb in fiscal year

Rubber & Plastics News Report
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    MELKSHAM, England—Avon Rubber P.L.C.'s efforts to expand its operation have resulted in strong financial results for the 2015 fiscal year.

    Income before taxes rose to a little more than $21 million from $17.7 million last year in the 12-month period that ended Sept. 30 while revenues jumped 8 percent to $143 million.

    Andrew Lewis, interim group chief executive, said 2015 “has been an excellent year, reflecting the strategic decisions made over the last three years to invest in innovative new products and technologies while expanding our international markets.

    “Together with the integration of the technology, customers and people from our recent acquisitions, this provides us with the opportunity to continue to grow our business this year and beyond.”

    Avon acquired two companies in during the fiscal year: InterPuls, which bolsters the firm's Dairy business, and Hudstar Systems, a producer of electronics for breathing apparatus for firefighters to add to the capabilities of the firm's Defense and Protection business.

    Most recently as the financial year closed, Avon bought the thermal imaging camera business of e2v P.L.C. to further strengthen the Defense and Protection operation.

    Defense and Protection represents about 74 percent of the company's revenues. During the latest fiscal year, the division's revenues increased 7 percent to $105.2 million.

    Dairy's sales improved by 11 percent to $37.8 million during that span.

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