25th Feb 2026 12:05
(Alliance News) - Avingtrans PLC on Wednesday reported that revenue in its first half was slightly down but in line with guidance, while statutory and adjusted profit increased.
The Cambridgeshire, England-based engineering firm also declared an interim dividend of 2.0 pence per share for the six months ended November 30, up from 1.9p the year before.
Revenue decreased by 1.2% to GBP78.1 million, "in line with management expectations," from GBP79.0 million the year before.
Pretax profit increased 31% to GBP5.0 million from GBP3.8 million. Basic earnings per share rose 25% to 12.7p from 10.2p, and diluted EPS also climbed 25% to 12.5p from 10.0p.
Under adjusted figures, which added back amortisation of intangibles from business combinations, acquisition costs and exceptional items and discontinued operations, pretax profit increased 27% to GBP5.7 million from GBP4.5 million, and diluted EPS rose 22% to 14.6p from 12.0p.
Adjusted earnings before interest, tax, depreciation and amortisation increased 10% to GBP9.6 million from GBP8.7 million, which Avingtrans said was also in line with its expectations and was primarily due to reduced losses in the Medical and Industrial Imaging division. The margin increased to 12.3% from 11.0%.
"A strong first half performance from the Advanced Engineering Systems (AES) division has primed the group to achieve full year expectations, with Medical and Industrial Imaging sales also building momentum," Chair Roger McDowell commented. "Prospects for AES are exciting, driven by global energy demand - especially in next generation nuclear power, which is in turn driven by the underlying rapid global growth in AI and data centre infrastructure and electric vehicles."
Looking ahead, McDowell noted "on-going global uncertainties" and Avingtrans' ongoing commitment to "pursuing carefully selected M&A opportunities".
He continued: "We benefit from clear visibility over the revenue and profits of the second half of FY26, thanks to an ongoing strong order intake and timely contract revenue recognition.
"Therefore, the board continues to be confident about the group expectations for the full year and views the mid to longer term future very positively."
Shares in Avingtrans were 1.2% higher at 572.00 pence at around noon on Wednesday in London.
By Emma Curzon, Alliance News reporter
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