Avingtrans PLC Trading Update and Notice of Interim Results (9354M)
January 14 2019 - 1:00AM
UK Regulatory
TIDMAVG
RNS Number : 9354M
Avingtrans PLC
14 January 2019
14 January 2019
Avingtrans Plc
("Avingtrans" or the "Group")
Pre-Close Trading Update & Notice of Interim Results
Avingtrans PLC (AIM: AVG), which designs, manufactures and
supplies original equipment, systems and associated aftermarket
services to the energy and medical sectors, is pleased to announce
it has continued to perform well in the first half of the financial
year and is trading in line with market expectations.
The former Hayward Tyler (HT) businesses, including Peter
Brotherhood, are continuing to improve and are now fully integrated
into the Avingtrans structure. Peter Brotherhood's large government
contract (announced on 25 June 2018) is proceeding to plan and our
progress has resulted in further enquiries from the customer. The
prospect pipeline for the HT businesses is robust.
Metalcraft's three metre cubed (3M3) box contract is now in
production, with an expectation that we will achieve full current
production capacity by financial year end.
Recent acquisitions are also integrating well. The performance
of Ormandy Group (acquired in February 2018) is steadily improving
and the outlook for the business is strong. Integration is also
underway at Tecmag, acquired in October 2018. This small but
strategically important acquisition increases our ability to
service the Magnetic Resonance Imaging and Nuclear Magnetic
Resonance market sectors. In turn, this supports investment in new
product development and initial projects are already underway.
As previously noted, we do not expect that Brexit will have a
material impact on our operations and our European exposure is
relatively limited.
The Group will publish its results for the six months ended 30
November 2018 on Wednesday 27 February 2019.
The management team will be hosting a presentation for analysts
on the day of results at 9:30am at the offices of Newgate
Communications, Sky Light City Tower, 50 Basinghall Street, London
EC2V 5DE.
Enquiries:
Avingtrans plc
Steve McQuillan, CEO
Stephen King, CFO 0135 469 2391
N+1 Singer
Shaun Dobson / Lauren Kettle (Corporate
Finance)
Rachel Hayes / Mia Gardner (Corporate
Broking) 0207496 3000
Newgate Communications
(Financial PR)
Adam Lloyd
Tom Carnegie 020 3757 6880
About Avingtrans
Avingtrans is engaged in the provision of highly engineered
components, systems and services to the energy, medical and traffic
management industries worldwide.
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END
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