Losses down at Avon Protection
Losses at Avon Protection, which makes body armour and respiratory equipment for the military and emergency services, have narrowed according to a financial report issued today (Tuesday).
The Melksham-based firm seems to be benefitting from Russia’s invasion of Ukraine, and a subsequent increase in defence equipment spending as a result.
The firm said losses had gone down to $2.1 million from $29 million a year ago.
Revenue increased by 8.6 per cent to $263.5m in the year to the beginning of October, carried by significant growth in the UK market.
UK revenue soared by 85 per cent, offsetting a decline in revenue from the US Department of Defence.
Executive chairman Bruce Thompson said: “There is a significant long-term growth opportunity for Avon.
“The demand for our world-leading respiratory and head protection systems is as strong as ever, and we remain focused on protecting those who protect us with our innovative solutions.”
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