Avon Technologies Plc (AVON.L, AVNBF), a maker of respiratory protection equipment, reported Wednesday a profit in its first half, compared to prior year's loss, with srong growth in revenues. Orders received declined, while order book were higher. The company also maintained fiscal 2026 margin outlook.
On the London Stock Exchange, Avon shares were gaining around 7 percent to trade at 1,671.28 pence.
Looking ahead, the company said it is on track to deliver target adjusted operating margin within 14 percent to 16 percent range in fiscal 2026.
The company further said that with strong progress made on operational goals, it expects to reach medium-term financial targets a year early in fiscal 2026.
The company said it does not expect US tariffs or DOGE to impact its ability to meet medium-term target margin range.
In the first half, profit before tax was $3.1 million, compared to prior year's loss of $1.5 million. Earnings per share were 7.7 US cents, compared to loss of 3.7 US cents in the prior year.
Adjusted profit before tax was $14.8 million, compared to $8.8 million a year ago. Adjusted basic earnings per share were 38.8 cents, compared to 22.3 cents last year.
Revenue grew 16.8 percent to $148.7 million from prior year's $127.1 million pounds.
Orders received, meanwhile, dropped 10.1 percent year-over-year to $170.5 million, while closing order book climbed 24 percent from last year to $247.0 million.
The growth in order book was predominantly driven by Avon Protection's 69 percent growth in order book from Ukraine related NATO orders and continued strong UK & International demand.
Further, the Board has proposed an interim dividend of 7.6 cents per share, up 5.6 percent from last year's 7.2 cents per share. The interim dividend will be paid on September 5 to shareholders on the register at August 8.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
For comments and feedback: editorial@rttnews.com