PPE manufacturer returns to profit
A leading manufacturer of personal protection equipment (PPE) has returned to profit after posting a multi-million dollar loss last year.
Canadian PPE manufacturer Allen-Vanguard, which has major manufacturing plants in Tewkesbury, UK, and Cork, Ireland, posted a third quarter profit of C$600,000, an impressive turnaround from the C$3.9 million loss last year.
The firm said that the improved results were driven by a reduction in costs in administration and selling and an improved performance by its electronic countermeasures business.
Allen-Vanguard's primary field is the development of tools and technology to deal with hazardous materials materials, particularly those of a chemical, biological, radiological, nuclear or explosive nature.
Products include specialist equipment for bomb disposal, remote intervention robots and PPE.
David Luxton, president and chief executive of Allen-Vanguard, said: "The pattern of continued and increasing profitability is gratifying.
"We are very pleased with our third quarter results and the strong visibility we have on an exceptional fourth quarter. This is before any major potential contract wins through our business development activity with Lockheed Martin on ECM (electronic countermeasures) programmes in the US, where our products have been performing well in trials."
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