Avon Protection Share Discussion Threads

[tdog1975] 13/12/2017 17:42

Lovely finish, maintain tomorrow for a mini push Friday

[mattboxy] 11/12/2017 13:38

Sshhhhh! Quietly breaking out!

[mattboxy] 06/12/2017 07:51

AVON RUBBER p.l.c.US Department of Defense Mask Systems OrderAvon Rubber p.l.c. is pleased to announce the receipt of an order for 53,000 M50 mask systems worth $14.3m from the US Department of Defense ("DoD").This order together with the closing order book of 49,000 mask systems as at 30 September 2017, secures the anticipated sales of M50 mask systems to the DoD for our 2018 financial year.

[robow] 24/11/2017 15:43

Phil Oakley gives it a good write up in his weekly column for Sharepad today

[grecian1] 16/11/2017 10:00

I thought there would be a lot more interest in this given the results!?

[mattboxy] 15/11/2017 14:21

A 40p dividend would cost £12.4m which would be easily covered by cash in hand..

[jeffian] 15/11/2017 12:50

I don't disagree about acquisitions - although they appear to have nothing specific in mind at the moment - but I'm dead against share buybacks which, in my experience, use real hard cash to buy some theoretical gain which is rarely accessible to shareholders by an equivalent increase in the share price. However, my point is that at the moment they just seem to be hoarding cash at an increasing rate. If you have a "policy" of a 2x covered dividend, what is the point of having a 7x covered dividend and dribbling out the increases over 5 years?!

[fredfishcake] 15/11/2017 11:21

I'd rather have a large special divi if they don't find a sensible acquisition in the near future, and an immediate increase in the basic divi. I'd imagine they'd be able to fund any acquisition via borrowing with their cashflow at present.

I'm with Jeffian on this.

[9degrees] 15/11/2017 10:40

I would rather have less divi but see them make some sensible acquisitions

[jeffian] 15/11/2017 10:34

Yes, all good but I still think they're being penny-pinching with the divi.

"Our policy is to maintain dividend cover (the ratio of dividend per share to adjusted earnings per share) above two times. This year dividend cover was 6.7 times (2016: 7.6 times). Once dividend cover has reduced to two times we intend to increase dividends in line with the growth in adjusted earnings per share."

Even after a 30% rise, the yield has just crept over 1% while they pile up cash at an ever-increasing rate. Even if they go on increasing the divi at 30% per annum, it would take 5 years to get to their targeted 2x cover, even without any increase in adjusted eps. A 40p div (i.e. over 2x cover) would still only give a yield around 3.7%. I just don't see the point in 'rationing' the increases if that's where we're going anyway!

[18bt] 15/11/2017 08:38

Cracking results - like the divi increase. Now scope for some decent sized acquisitions or a buy back

[mammyoko] 15/11/2017 07:45

Great results - adjusted operating profit, EPS and net cash ahead of expectations. Forward order book up 46.3% in constant currency.

Within Avon Protection we expect initial orders for the M53A1 powered air respirator and M69 aircrew respirator programmes in 2018, with these orders offsetting the non-recurrence of the 37,000 FM50 general purpose respirator order and anticipated lower M50 mask systems deliveries to the DoD during 2018.

This ought to fly

[jeffian] 14/11/2017 16:46

I'd like to see a stonking increase in the dividend. Yielding less than 1% over 7x covered whilst piling up cash on the balance sheet doesn't make sense to me unless they have something better to do with the cash.

[johnthespacer] 14/11/2017 13:57

Final Results out tomorrow - must be some sellers ahead of the results...

[mattboxy] 09/11/2017 22:17

Lots happening here in the UK and US WRT masks. Results on the 15th I believe so all coming together nicely for a push to new highs I hope!!

[mammyoko] 08/11/2017 14:09

Just awarded framework contract with DoD following on from MoD preferred bidder award last week

[jurgenklopp] 08/11/2017 10:44

Tremendous performance today.

[andysandy] 03/11/2017 17:45

There goes the rubber on a big bounce again

[9degrees] 30/10/2017 19:47

judging by the size of ups and then downs there must be stock shortage ??

[jeffian] 24/10/2017 17:48

I hope not. I don't want my profits erased.

[andysandy] 24/10/2017 16:49

It moves like rubber

[9degrees] 23/10/2017 14:45

eh up or down - now what has happened ?

[andysandy] 20/10/2017 08:38

I mean it's looking bad

[andysandy] 16/10/2017 16:25

It looking good

[jurgenklopp] 16/10/2017 14:55

Hellooooooo ...............

Could be getting ready for an assault on £10