Avon Rubber to outperform expectations

11th Oct 2010 12:34

Avon Rubber's shares rosefollowing an end of year update that revealed stronger than expected performance. The engineering group's dairy operations experienced market momentum and cost reductions, and together with a good performance from its new 'Milk-Rite' product, the business has improved on first half performance in the latter period. In protection and defence, the group has achieved full US government approval for a new filter line, doubling the production capacity for 2011.Along with its renegotiation of debt facilities and reduction in overall cost of borrowing, Avon Rubber expects full year performance to be ahead of current market expectations.Finals results will be reported on 24 November.