AVON RUBBER p.l.c.
(“Avon”, the “Group” or the “Company”)
Unaudited interim results for the six months ended 31 March 2009
|
|
31 March 2009 £Millions |
31 March 2008 (restated) £Millions |
|
CONTINUING OPERATIONS |
|
|
|
REVENUE |
44.1 |
21.7 |
|
OPERATING PROFIT/(LOSS) |
1.8 |
(1.7) |
|
EARNINGS BEFORE INTEREST, TAXATION, DEPRECIATION AND AMORTISATION |
3.4 |
0.0 |
|
PROFIT/(LOSS) FOR THE PERIOD |
0.8 |
(5.9) |
|
NET DEBT |
16.5 |
13.5 |
|
EARNINGS/(LOSS) PER SHARE: |
|
|
|
Basic |
2.7p |
(20.7)p |
|
Continuing operations |
1.9p |
(5.3)p |
Commenting on the results, Peter Slabbert, Chief Executive said:
“Avon has made significant progress during the first half of 2009. The Group has returned to profit, and importantly has secured significant additional orders from both the US DoD and the UK MoD which have added to the Protection & Defence order book. Our Dairy business has continued to be profitable and cash generative. We have taken difficult but necessary decisions to reduce costs in our UK Dairy business by moving production to the Czech Republic. Our Cadillac facility is now making good progress towards optimum efficiency. Our order book is growing in all markets across the world and we have increasing confidence that our business will continue to grow.“