MELKSHAM, England—Following two years of mergers and acquisitions and portfolio streamlining, Avon Rubber P.L.C. is still a buyer, having delivered a strong first half.
Adjusted earnings (EBITDA) was up 33 percent at $24 million, on 41 percent higher sales of $122 million, Avon Rubber reported May 25.
Orders received totaled just under $168 million, up 46.5 percent year-on-year, reflecting "strong momentum" across the group's portfolio of life critical personal protection systems.
Avon said its strategic move in 2020 to shift its focus to life critical personal protection systems helped it deliver growth in orders and revenues.
In particular, the manufacturer saw significant growth in respiratory protection from both military and first responder customers, according to CEO Paul McDonald.
With a $157-million order book, McDonald said his company was "confident of delivering full year expectations and remain excited by the medium-term prospects."
"We will continue to explore further acquisition opportunities where we see potential to deliver significant strategic and financial value against our clear criteria," he said.
In addition, with the shift in its portfolio, the group is planning to change its name to Avon Protection P.L.C. during the second half of the year, McDonald said.