Theon International - Positive results and forward momentum

Theon has reported strong FY25 growth and a continuation of mid-twenties margins, highlighting the strength of the company's night vision product offering and market position. FY26 is set for further strong progress, supported by the order backlog (inc options) of c €2.4bn and recent digital product launches as well as bolt-on acquisitions. Adding in the benefit from increasing defence budgets, especially in Theon's key European market, the group appears well positioned to generate further future value.

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