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(Sharecast News) - Defence products manufacturer Avon Technologies said on Friday that Q1 trading was in line with expectations and that its outlook for the FY remained consistent with previous guidance.
Avon stated it has seen "continued order momentum" in Q1, as evidenced by a recent $18.0m delivery order for its Next Generation Integrated Head Protection System helmet for the US Army and a renewal contract valued up to 10.0m with Thales UK to support a critical UK defence programme.
The London-listed firm also noted that it has continued to make "good operational progress" on its STAR strategy and said it remains confident that its strategic initiatives will support sustained growth and improved returns over the long term.
As of 0920 GMT, Avon shares were up 0.68% at 1,484.0p.
Reporting by Iain Gilbert at Sharecast.com
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