Key Points – Avon Protection posted a strong first half, with revenue up 7%, adjusted operating profit up 39%, and adjusted EPS up 45% on a constant-currency basis.
Management said it hit financial targets 18 months ahead of schedule as its transformation program nears completion. – The Avon Protection segment drove growth, with revenue rising 23% and operating margin topping 22%, supported by NATO demand, rebreather deliveries, and a large U.S. filter award
Management highlighted further opportunities from new product launches and defense-related programs. – Team Wendy lagged in the first half due to production ramp issues and softer commercial demand, but management expects improvement in the second half as output stabilizes and order recovery picks up. The company maintained a positive full-year outlook, with high single-digit revenue growth and margin near the top of its target range still expected. Avon Protection (LON:AVON) reported a strong first half, with executives saying revenue, profit and returns improved materially as the group’s multi-year transformation program nears completion and its defense and first responder markets remain supportive.
Chief Executive Jos Sclater said the company delivered “strong growth in revenue, profit and margin” and achieved its financial targets 18 months ahead of schedule. He said the progress reflected the benefits of transformation and the group’s growth strategy across its businesses. “With transformation now coming to an end, we’re increasingly able to focus on the next phase of driving sustainable growth,” Sclater said. He added that the company sees opportunities for organic growth and has a balance sheet that provides “further options for acceleration.” First-half revenue and profit rise Chief Financial Officer Rich Cashin said revenue rose 7% and adjusted operating profit increased 39% compared with the prior-year period on a constant currency basis.