Avon Rubber posts full-year loss, scraps dividend

Newswire

Nov 27 (Reuters) - Polymer engineering group Avon Rubber Plc said on Thursday it slipped to a full-year loss from a profit last year on higher costs and delays in new contract wins amid weaker markets, sending its shares down 3 percent in morning trade. The company, which paid 8.5 pence dividend last year, also confirmed that it would not pay a dividend for the year ended Sept. 30 due to weak trading and high debt levels. Avon posted a full-year pretax loss of 12.4 million pounds ($19.09 ...

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