Avon Technologies Plc (AVNBF), a manufacturer of protective equipment, Tuesday reported profit before tax from continuing operations of $2.3 million for the full year compared with a loss of $20.2 million in the previous year.
On an adjusted basis, profit before tax increased to $25.3 million from $14 million a year ago.
Operating profit from continuing operations was $10.7 million compared with loss of $12.6 million last year, while adjusted operating profit rose to $31.6 million from $21.2 million.
The company posted net profit of $3 million or 9.7 cents per share compared with net loss of $14.4 million or 48 cents per share a year ago.
Adjusted profit increased to $20.9 million or 67.6 cents per share from $12.1 million or 40.3 cents per share last year. Revenue for the year grew 12.8 percent to $275 million from $243.8 million in the previous year.
The Board has recommended a final dividend of 16.1 cents per share, to be paid on March 7 to shareholders on the register on February 7.
For the full year, the company expects revenue to grow in mid-single digits.
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