Source - Alliance News

Avon Protection PLC said on Tuesday it had won a contract with a maximum value of $204 million to supply helmets to the US Defence Logistics Agency.

The contract has a maximum value of $204 million over a five-year duration. It has a one-year base period with a maximum value of $46 million plus four further one-year extension options. Avon Protection said the base year has a minimum value of $7 million.

The Wiltshire, England-based personal protection company said that initial revenue from the contract are expected in its 2024 financial year, following completion of first article testing in 2023. Avon Protection's financial year ends September 30.

Chief Executive Paul McDonald said: ‘This contract helps underpin the medium-term outlook and visibility for Avon Protection and reflects the strength of our offering to both military and first responder customers globally.’

Shares in Avon Protection were up 4.2% at 1,148.95 pence on Tuesday morning in London.

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