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Avon Rubber delivered a cautious outlook on growth for 2022 amid supply-chain woes and customer order volatility after swinging to a loss in fiscal 2021.
For the year ended 30 September, pre-tax losses were $35.6 million, compared with a profit of $2.2 million year-on-year, while revenue rose 16.2% to $248.3 million.
Looking ahead to fiscal, the company said flagged ongoing challenges from supply chain disruption and customer order pattern volatility owing to the ongoing COVID pandemic.
'Given the ongoing challenges, we are taking a cautious view on the anticipated rate of growth for FY22 at this stage in the year,' the company said.
The company guided to revenues excluding armor, in FY22 of between $260 and 290 million, reflecting growth of between 8% and 20%, with further revenue of up to $25 million from the armor business depending on the timing of DLA ESAPI product approvals.