Business
Trading Update and AEF Dispos
Trading Update and AEF Dispos.
About this update from Avon Technologies Plc
[{"type":"text","content":"\n RNS Number : 4623J Avon Rubber PLC 31 March 2010 \n \n\nStrictly embargoed until 07:00 31 March 2010\nAvon Rubber p.l.c. (\"Avon\" or the \"Group\")\nTrading update and AEF disposal\nGroup trading \nSince our Interim Management Statement in January, trading in the first half of FY 2010 has made further improvement in line with our expectations. \nThe 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. \nDemand 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.\nAvon Engineered Fabrications (AEF)\nIn 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. \nThe Board has therefore withdrawn AEF from the sale process and its results will be shown within continuing operations for the half year to 31 March 2010.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.\nHalf Year results\nAvon will announce its half year results on Tuesday 11 May 2010.\nFor further enquiries, please contact:\n\n\n\n\nAvon Rubber p.l.c.\n\n\n\n\n\n\n\nPeter Slabbert, Chief Executive\n\n\n01225 896831\n\n\n\n\nAndrew Lewis, Group Finance Director\n\n\n01225 896830\n\n\n\n\n\n\n\n\n\n\n\n\nFiona Stewart, Corporate Communications Executive\n\n\n01225 896871\n\n\n\n\nWeber Shandwick Financial\n\n\n\n\n\n\n\nNick Oborne / Clare Thomas\n\n\n020 7067 0700\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCBLGDXUBXBGGG \n ","length":4377,"tagName":"div"}]