Major contract wins continue momentum for Avon Technologies
Wiltshire manufacturer Avon Technologies has hailed two major orders as evidence of its “continued momentum”.
In recent weeks the protective equipment specialist has won orders worth $18m from the US Army and a renewal worth up to £10m with Thales UK to support a critical UK defence programme.
In a statement ahead of this morning’s AGM, it said: “Trading in the first quarter was in line with expectations and the group outlook for the full year remains consistent with the guidance given with the FY24 results in November.”
The business was renamed from Avon Protection to Avon Technologies last August, but continues to have two business units, Avon Protection and Team Wendy.
Avon’s share price has increased by 150% in the past 15 months, and last night’s closing price valued the business at £450m, although this remains less than half the value seen during its lockdown highs.
