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Avon Rubber - Shares rocket after results; gain 20%

December 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Avon Rubber has stormed ahead after full year results to 30 September. This showed revenue maintained at Â£107m although pretax profit was ahead by 8% to Â£11m and eps 10% to 25.6p. Net debt reduced by Â£3.1m to Â£8.7m. The biggest part of the group, Protection & Defence, recorded sales down 4% to Â£74.6m due to lower filter sales to the US Department of Defence. During the year, 193,000 M50 masks were delivered, a 35% increase, with 520k filters delivered, down from c.1m in the prior year. Divisional operating profit remained stable at Â£7.5m with the changing mix helping a 40-point improvement in margin to 10.1%. At the year-end, forward orders for the M50 mask for the DoD totalled 148,000, against one broker's (WH Ireland) ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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