Avon Technologies shares soared after orders hit a record high due to growing fears over Russian chemical weapons.
The Wiltshire-based headgear maker, which went public in 1949 after supplying gas masks during the Second World War, said sales rose 14.1 per cent to £239.4million in the year to September 30.
Annual profits leapt 37.9 per cent to £26.6million as it pointed to ‘rising defence budgets, particularly in Europe, and increased focus on CBRN (chemical, biological, radiological and nuclear) protection amid elevated threat levels’.
Russia has been accused of using banned chemical weapons in Ukraine.
This has been a ‘key driver’ for orders, which reached a record £200.4million, 17 per cent up on the year before.
Crime in the US has also led to ‘greater demands’ for protective equipment from paramedics and firefighters. Avon returned to the FTSE 250 this summer after four years.
In demand: Avon, which went public in 1949 after supplying gas masks during the Second World War, said sales rose 14.1% to £239.4m in the year to September 30
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