Avon Rubber (AVON) surprised investors by releasing its results for the year to September a day early. But that didn't mean the protection and dairy specialist had something to hide, as years of product development yielded further progress against increasingly tough comparators.
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Adjusted operating profit leapt 19 per cent, or 13 per cent if you exclude the positive effect of a strong US dollar. Much of the gain came from the group's core protection and defence unit, where profit soared thanks to price increases under a long-term contract with the Department of Defence as well as efficiencies. The division's revenue rose 7 per cent.