Rover 75 delay hits Avon profits

A delay in the launch of the new Rover 75 hit demand at components supplier Avon, the company said this week. Avon added that a fall in demand from Ford had hit it hard during the year. The company’s pre-tax profits were down from £24m to £21.9m on sales £900,000 lower at £266m. The continuing […]

A delay in the launch of the new Rover 75 hit demand at components supplier Avon, the company said this week.

Avon added that a fall in demand from Ford had hit it hard during the year.

The company’s pre-tax profits were down from £24m to £21.9m on sales £900,000 lower at £266m. The continuing strength of the pound had also dented profits, Avon said.

The delay in manufacturing for the Rover 75 had seen an estimated 110,000 fewer units produced, Avon claimed, resulting in a big fall in demand for its couplings, hoses and engine mountings.

The company estimated that it had lost around £8m in sales.