Bosses at Wiltshire manufacturer Avon Rubber today said their strategy to accelerate investment in new products, technologies, systems and people was paying off as they unveiled significant increases in revenues, operating margins and profits.
Annual pre-tax profits at the Melksham-based group, best known for its respirators, increased to £14m from £11m on revenues up from £106.6m to £124.9m.
Chief executive Peter Slabbert said: “I am delighted that the implementation of our strategy has delivered exceptionally str
ong growth in 2013. We expect to make further progress in both our protection & defence and dairy divisions in 2014.”
He said the strong results followed three years of ‘turnaround’ which had meant reducing its reliance on US Department of Defence spending – which has come under pressure – to gain increased sales into the ‘first-responder’ industry, putting a greater focus on global markets, particularly the Middle East, and also putting significant investment in broadening its product offering.
Its dairy division, which makes milking equipment used by farmers, has been developing technologically superior new products, building on its Milkrite and expanding into rapidly developing new markets.
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