24th Sep 2025 09:50
(Alliance News) - Avingtrans PLC on Wednesday reported increased profit for financial 2025, highlighting "strong underlying growth" in its Advanced Engineering Systems division.
The Chatteris, England-based engineering company's pretax profit, for the year ended May 31, increased 42% to GBP6.9 million from GBP4.8 million. It was "slightly ahead of the previously upgraded market expectation," Chair Roger McDowell noted.
Revenue from continuing operations increased 15% to a "record" GBP156.5 million from GBP136.6 million.
Avingtrans also declared a 3.0 pence per share final dividend due to its "promising overall results", up from 2.90p for the previous year. This results in a total dividend of 4.9p per share, up 4.3% from 4.7p.
Continuing adjusted pretax profit, including amortisation of intangibles from business combinations, acquisition costs and exceptional items, rose to GBP8.6 million from GBP7.3 million. Avingtrans said this reflects "strong underlying growth in AES results alongside lower restructuring costs".
Adjusted earnings before interest, tax, depreciation and amortisation rose to GBP16.7 million from GBP14.0 million, also ahead of market expectations.
For the AES division, adjusted Ebitda rose 20% to GBP21.5 million and revenue climbed 14% to GBP151.5 million.
The AES division "went from strength to strength", Avingtrans said, highlighting "record results at Hayward Tyler and Ormandy...with good progress also at Metalcraft and Booth".
The Medical & Industrial Imaging division's revenue rose to GBP4.9 million from GBP3.7 million, "pending build-up of new MRI and X-ray products". Its Ebitda loss widened to GBP3.6 million from GBP2.8 million.
MII has seen "substantial progress in achieving key milestones" regarding the marketing of Adaptix's 3D X-ray systems and the development of Magnetica's compact helium-free MRI systems.
However, Avingtrans noted that Magnetica's 510k application to the US Food & Drug Administration "has been further delayed until H2 FY26, mainly driven by the FDA's vastly increased cyber-security requirements for imaging systems".
Avingtrans said it has performed in line with management expectations in the three months since May 31, with AES contract wins bolstering "the strong momentum of FY25 [which has continued] into FY26".
"The board remains confident about the current strategic direction and potential future opportunities across both the AES & MII divisions, whilst continually monitoring market conditions," it added.
McDowell commented: "We are very pleased to present investors with another enhanced set of results. In challenging global markets, Avingtrans has again performed robustly as a group and exceeded market expectations...With several of our businesses now benefitting from positive global trends in AI, data centres and, relatedly, new nuclear power, we have a strong order book moving into FY26 and, therefore, we anticipate further organic growth as a group this year."
Shares in Avingtrans were down 1.8% at 481.00p on Wednesday morning in London.
By Emma Curzon, Alliance News reporter
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