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Avon Rubber increases it 2018 final dividend by 30%

Investment Tools Ltd.
Avon Rubber increases it 2018 final dividend by 30%

Avon Rubber 2018 final results

Strong financial delivery - revenue, operating profit, EPS and cashflow ahead of expectations

·     Orders received up 8.1% and ahead of revenue

·     Revenue up 8.7% and adjusted operating profit up 11.8%

·     High volume sales of US DOD M50 mask system resulted in adjusted EBITDA margins of 21.3%

·     Adjusted basic earnings per share of 77.1p (0.8% down) due to lower tax provision release in 2018 compared to 2017

·     Strong cash generation (108.2% of EBITDA) and divestment proceeds resulted in net cash of £46.5m, up £21.8m

·     Final dividend per share of 10.68p resulting in full year total dividend of 16.02p, a 30% increase

·     Opening order book for 2019 of £37.8m providing good forward revenue visibility

Companies mentioned

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