Half Year 2024 Avon Protection PLC Earnings Call Transcript
Well, good morning, everybody. Thank you very much for coming and welcome to those on the phones. Thank you especially to those that went to the Chelsea Flower Show last night who are probably feeling a little bit worse for wear.
We have had an excellent start to the year, a growing order book, significantly increased profits, and much improved cash flow. Our strategy is working and we're seeing the benefit of our initiatives. There is meaningful improvement in our key operating metrics such as productivity, scrap, and inventory turns. These are leading indicators and demonstrate the improvements we're making.
The order book and pipeline are both very strong. We closed the half with an order book of nearly $200 million, up more than $50 million on the prior year. This gives us confidence going into the second half. We are trading ahead of expectations for this year. And looking beyond that, we still have a lot to do. But the momentum that we have demonstrated so far gives us confidence that we can achieve our medium-term goals.
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