Avon Protection secures $15.1m US defence contract

Avon Protection said on Wednesday that it had secured an order worth $15.1m from the US Department of Defense, sending shares in the provider of protective equipment surging.

The group has received an order for around 380,000 pairs of M61 filters, with deliveries expected to begin in early FY23.

The company also said that trading in the second half of the year has improved in line with management's expectations as set out at the half year results in May.

"This is due to a modest improvement in mix in our respiratory portfolio and the commencement of body armour deliveries following achievement of full FAT approval, which partially offset the negative headwinds seen in H1," it said. "In addition, cost reduction activities continue to progress as expected. Overall, performance for the year on an excluding armour basis is predicted to be at least in line with market expectations."

At 0900 BST, the shares were up 15% at 846.50p.