StockMarketWire.com - Military equipment maker Avon Protection said it expected annual revenue to meet its guidance as orders increased by 34%.

For the financial year ended 30 September 2021, revenue was expected to rise to $250 million from $213.6 million last year, which is within the range indicated in the company's trading update of 13 August 2021.

'[W]e have seen revenue growth in our first responder business and military respiratory portfolio, offset by declines in military ballistic revenue due to the previously announced delays,' the company said.

Order intake for the year was up 34% to $280 million, and the closing order book into the new financial year was $141 million, up 39% on 30 September 2020.

'Trading profitability in the remainder of FY21 was in line with the expectations set out in the August trading update.'

'The group will however recognise one-off, non-cash, ballistic protection inventory adjustments, which are expected to reduce the reported adjusted EBITDA margin for FY21 to between 15% and 16%.'




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