Business
New delivery order & updated FY 2024 guidance
New delivery order & updated FY 2024 guidance.
About this update from Avon Technologies Plc
[{"type":"text","content":"\n\n\n\n\n25 July 2024\nAvon Protection plc\n(\"Avon\" or the \"Group\")\n \nNew delivery order & updated FY 2024 guidance\nAvon is pleased to announce Team Wendy has received a follow-on delivery order worth around $19.5 million from the U.S. Defense Logistics Agency under the second-generation Advanced Combat Helmet framework contract announced in February 2022. This gives good order cover well into FY2026.\n \nIn addition, overall trading has continued to be strong into the second half of FY24 with good momentum reflected across a number of our strategic and financial KPIs. The benefits of our focus on efficiency, and good operational execution are contributing to faster than expected progress in both Strategic Business Units. As a result, the Group is today issuing the following update to FY 2024 guidance:\n \n· Revenue growth of around 11% (from c.10% previously)\n· Group adjusted operating profit margin slightly above 11% (from 10% previously)\n· All other FY 2024 guidance remains unchanged\n \nFY2024 results are due to be released on 19 November 2024.\n \nJos Sclater, CEO of Avon Protection plc, said:\n\"Our market leading protection technologies and contract frameworks position us well in the current geopolitical environment.\nWe have successfully rebased the business to create a fitter, stronger organisation and it is encouraging to see the benefits of our transformation plan and continuous improvement culture drive improved financial performance.\nWe still have a lot of work to do but are increasingly confident that our strategic initiatives will enable us to meet our medium term targets.\"\n \nFor further enquiries, please contact:\n\n\n\n\nAvon Protection plc\n\n\n\n\n\n\n\nJos Sclater, Chief Executive Officer Rich Cashin, Chief Financial Officer Gabriella Colley, Corporate Affairs Director\n\n\n+44 1225 896 848\n\n\n\n\n \nSodali & Co\n\n\n\n\n\n\n\nPete Lambie\nJames White \n \n\n\n+44 7855 432 699 [email protected]\n\n\n\n\nAbout Avon Protection plc:\nWe are a world leader in protective equipment, with a reputation for innovative design, high-performance quality and specialist materials expertise.\nOur two businesses, Avon Protection and Team Wendy, supply our respiratory and head p...