Avon Protection PLC (LSE:AVON)
£ 13.56 0.24 (1.8%) Market Cap: 406.75 Mil Enterprise Value: 467.02 Mil PE Ratio: 0 PB Ratio: 3.68 GF Score: 72/100

Full Year 2023 Avon Protection PLC Earnings Call Transcript

Nov 21, 2023 / 09:00AM GMT
Release Date Price: £7.46 (-6.16%)
Jos Sclater
Avon Protection PLC - Chief Executive Officer

Well, good morning, everybody. It's now 10 months since I've joined Avon, and a lot has been going on. Today, I'm going to take you through a few highlights, then Rich will take you through the financials. And then I'm going to provide a strategy update.

We've started the process to reposition Avon as a high-performing defense company focused on protecting the lives of those who protect us. We've made good progress in a limited time, but it's the start of a journey. We need to be much more efficient and cost effective, and we need to build our order book and turn revenue and profit into cash.

We exited our armor business in line with our plan. Strategically, we are a more focused business, and the exit creates a big opportunity to increase margins in head protection. We've reorganized Avon and are already seeing the benefits: a greater feeling of ownership, a will to win, more pace, more accountability. We are now ready to move into transformation.

We finished planning most of our transformation initiatives, giving us

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