Trading Update and AEF Disposal

 

TIDMAVON 
 
RNS Number : 4623J 
Avon Rubber PLC 
31 March 2010 
 

Strictly embargoed until 07:00 31 March 2010 
                   Avon Rubber p.l.c. ("Avon" or the "Group") 
                        Trading update and AEF disposal 
Group trading 
Since our Interim Management Statement in January, trading in the first half of 
FY 2010 has made further improvement in line with our expectations. 
The Protection & Defence business has continued to deliver against the US 
Department of Defence (DoD) and UK Ministry of Defence (MoD) contracts and the 
level of enquiry from non DoD / MoD sources remains encouraging. Plans for 
increased filter capacity and new product introductions are on target for launch 
later in the year. 
Demand for our Dairy products has been significantly higher than last year and 
we will see further benefits in the second half year following the successful 
completion of the outsourcing of European production. 
Avon Engineered Fabrications (AEF) 
In the previous financial year, AEF returned to profitability and a divestment 
process was initiated with the business disclosed as held for sale and its 
results shown as discontinued operations in the 2009 financial statements. As a 
result of uncertainty created by a contractual dispute with one of its major 
customers, we have not been able to conclude a transaction on satisfactory 
terms. 
The Board has therefore withdrawn AEF from the sale process and its results will 
be shown within continuing operations for the half year to 31 March 2010. The 
dispute has had no impact on current trading, which shows an improvement over 
2009, and we expect a favourable resolution in due course. 
Half Year results 
Avon will announce its half year results on Tuesday 11 May 2010. 
For further enquiries, please contact: 
+----------------+---------------+ 
| Avon           |               | 
| Rubber         |               | 
| p.l.c.         |               | 
+----------------+---------------+ 
| Peter          |  01225 896831 | 
| Slabbert,      |               | 
| Chief          |               | 
| Executive      |               | 
+----------------+---------------+ 
| Andrew         |  01225 896830 | 
| Lewis,         |               | 
| Group          |               | 
| Finance        |               | 
| Director       |               | 
+----------------+---------------+ 
|                |               | 
+----------------+---------------+ 
| Fiona          |  01225 896871 | 
| Stewart,       |               | 
| Corporate      |               | 
| Communications |               | 
| Executive      |               | 
+----------------+---------------+ 
| Weber          |               | 
| Shandwick      |               | 
| Financial      |               | 
+----------------+---------------+ 
| Nick           | 020 7067 0700 | 
| Oborne         |               | 
| /              |               | 
| Clare          |               | 
| Thomas         |               | 
+----------------+---------------+ 
 
 
This information is provided by RNS 
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