19th Jun 2024 14:38
Avingtrans PLC - designs and supplies components and services to the energy, medical and industrial sectors - Says revenue from continuing operations has reached record level, aligned with market expectations. For the financial year ended May 31, expects to report adjusted earnings before interest, tax, depreciation and amortisation between GBP13 million and GBP14 million, between 5.1% lower and 2.2% higher than GBP13.7 million reported for financial 2023. Says this is "materially ahead of market expectations," which it cites as GBP10.0 million. The company says its Advanced Engineering Systems division "delivered strong underlying results and maintained is momentum into the new financial year." Avingtrans highlights that Magnetica in the Medical division has transitioned into larger premises in Brisbane and Houston, with the company investing in the facilities to enable volume production of MRI systems starting in financial 2025, which started on June 1. Read More
