Avon Rubber plc (AVON.L) Thursday updated on trading for the period from October 1, 2011 ending February 1, 2012, and noted that its full-year forecast for deliveries in the Protection and Defence segment was unchanged, despite delays due to a contractual protest by one bidder. The delays may, however, see performance in the current financial year weighted towards the second-half, the company added.
Elaborating that the delay was connected solely with the five-year, $176 million contract for the M61 filter, Avon Rubber added that the separate 3-year, $6.1 million filter contract was not affected. Also, its ongoing product range expansion and enhancement program, dubbed Project Fusion, is still expected to boost organic growth from 2013.
by RTT Staff Writer
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