Acquisitions add technology and opportunity
Avon Rubber (L:AVON) sits in a clear niche leadership position in its chosen markets of respiratory protection and dairy milking equipment. With the forthcoming appointment of new CEO Rob Rennie, the group maintains continuity through Interim CEO Andrew Lewis, who has been instrumental in the transition of the group over the past seven years as CFO. The group continues its growth trajectory delivered through product innovation, market development and through the acquisition of InterPuls.
Business delivery highlights strategy
Avon has transformed over the past seven years from two divisions with limited products to a group with growing higher margin businesses with expanded high technology product ranges, market exposures and established and trusted brands. FY15 results have clearly demonstrated the benefits, with revenues up 8%, PBT up 20%, EPS up 28%, backed by a 30% uplift in the dividend. With good cash flow and a strong balance sheet even after the £21m acquisition spend during the year, the group is well positioned to continue its growth trajectory which has seen total shareholder returns of 2,872% since transformation commenced in January 2009.
To Read the Entire Report Please Click on the pdf File Below