Investing in innovation and strategic acquisitions has paid off for manufacturer Avon Rubber with annual pre-tax profits climbing by 19%.
The Melksham-based group, which makes gas masks and respirators for the military and emergency services and rubber products for the global dairy industry, achieved an 8% increase in revenues to £134.3m in the 12 months to September 30.
Pre-tax profits came in at £19.8m as it chalked up a third successive year of strong growth. 
Sales in its Protection & Defence division – which accounts for three quarters of revenues – rose by 7% to £98.8m. During the year Avon supplied 240,000 of its M50 masks to the US Department of Defence.
Its dairy division achieved stronger growth with revenues up 11% to £35.5m. Key to this growth was its added-value Cluster service under which farmers outsource their maintenance of their milking equipment to Avon.
The dairy division was also boosted by the acquisition in August of Italian specialist milking products form InterPuls for €29.75m (£20.7m).
Avon said the acquisition met its criteria for adding hi-tech products that can be sold under the Milkrite-InterPuls brand. This provides the farmer with a range of high margin technical solutions including pulsators, milk meters, automatic cluster removers and vacuum pumps, enabling customers throughout the world to configure state of the art milking systems.
InterPuls is also expanding into hi-tech sensors and devices to monitor the life cycle of a cow, analysing milk production, reproduction and health data to provide critical management information to increase the operational efficiency of the farm.
In June the group also completed the acquisition of US specialist electronics firm Hudstar Systems for $5.1m (£3.2m) in cash.
Hudstar designs and makes electronic control systems used in powered and supplied air respiratory protection systems – including Avon’s Deltair product.
Avon said the acquisition secured the supply chain for some key components of its Deltair products and provided electronics expertise with applications across the rest of its product range.
Interim group chief executive Andrew Lewis said: “2015 has been an excellent year reflecting the strategic decisions made over the last three years to invest in innovative new products and technologies while expanding our international markets.
“Together with the integration of the technology, customers and people from our recent acquisitions, this provides us with the opportunity to continue to grow our business, this year and beyond.”
