REG - Avingtrans PLC - Trading Update & Notice of Results

AvingtransAnnouncement

16/01/2025 07:00

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RNS Number : 5053T  Avingtrans PLC  16 January 2025

16 January 2025

 

Avingtrans plc

 

("Avingtrans", the "Company", or the "Group")

 

Trading Update and Notice of Results

 

Avingtrans PLC (AIM: AVG), which designs, manufactures and supplies critical
components, modules, systems and associated services to the energy, medical
and industrial sectors, announces that trading in the first six months of the
financial year to 30 November 2024 is in line with management expectations.

 

The Advanced Engineering Systems division performed well in the first half.
Notably, Booth Industries has completed the endurance testing for the HS2
tunnel "doorset" and is now planning the deployment of new and advanced
manufacturing technologies, to enable full scale production in 2025. These
advances mean that Booth is well placed to benefit from further contracts
relating to the HS2 project, as well as possible similar projects
internationally.

 

The Company continues to enjoy good traction in signing up distribution
partners for its Medical products in the US and Europe whilst volumes are in
their ramp up phase. Revenues in this division are trading in line with
management expectations with more material increases in volume expected to
emerge in FY26.

 

Steve McQuillan, CEO of Avingtrans, commented:

 

"I am pleased to share that the Group's trading performance for the first half
of the year aligns with expectations. The Group continues to have a strong
order book going into 2025, and we expect further growth, as we benefit from
favourable macro conditions in the energy, infrastructure, and healthcare
sectors. We remain confident in our ability to meet market expectations for
FY25 and this reflects our ongoing commitment to delivering value and
achieving our strategic objectives."

 

 

Notice of Results

 

Avingtrans will publish its results for the six months ended 30 November 2024
on 26 February 2025, at which time it will provide a further performance
update.

 

 

Enquiries:

 

 Avingtrans plc                                          01354 692 391
 Roger McDowell, Chairman

 Steve McQuillan, Chief Executive Officer

 Stephen King, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser and Broker)   020 7496 3000
 Shaun Dobson

 Alex Bond

 Oliver Platts

 IFC Advisory (Financial PR)                             020 3934 6630
 Graham Herring

 Tim Metcalfe

 Zach Cohen

 

About Avingtrans plc:

 

Avingtrans designs, manufactures and supplies original equipment, systems and
associated aftermarket services to the energy, medical and industrial markets
worldwide.

 

Business units

 

 Hayward Tyler - Luton, East Kilbride & Nottingham, UK, USA, China and
 India

 Specialises in the design, manufacture and servicing of performance-critical
 motors and pumps for challenging environments.

 Energy Steel, Inc - Rochester Hills, Michigan, USA

 Provider of custom fabrications for the nuclear industry, specialising in: OEM
 parts obsolescence; custom fabrications; engineering design solutions; product
 refurbishment; on-site technical support.

 Stainless Metalcraft Ltd - Chatteris, UK

 Provider of safety-critical equipment for the energy, medical, science and
 research communities, worldwide, specialising in precision pressure and vacuum
 vessels and associated fabrications, sub-assemblies and systems.

 Booth Industries - Bolton, UK

 Designs, manufactures, installs and services doors and walls which can be
 tailored to be: blast and explosion proof; fireproof; acoustically shielded;
 high security/safety; or combinations of the above.

 Ormandy Group - Bradford, UK

 Design, manufacturers and servicing of off-site plant, heat exchangers and
 other HVAC (heating, ventilation and air conditioning) products.

 Composite Products Ltd - Buckingham, UK

 Centre for composite technology, parts and assemblies, serving customers in
 industrial markets.

 Adaptix Ltd - Oxford, UK

 Adaptix has developed novel 3D X-ray for Orthopaedic and Veterinary
 applications amongst others. Commercialisation of this system (and others) is
 on-going.

 Magnetica Ltd - Brisbane, Australia

 Magnetica Limited specialises in the development of next generation MRI
 technologies, including dedicated extremity MRI systems and MRI system
 components. Magnetica has successfully built and tested a compact, integrated
 3 Tesla orthopaedic MRI system, demonstrating clinical-quality imaging.
 Commercialisation of this system (and others) is on-going. Magnetica's
 structure now includes two other business units:

 Scientific Magnetics - Abingdon, UK

 Designs and manufactures superconducting magnet systems and associated
 cryogenics for a variety of markets including MRI and provides services for
 Nuclear Magnetic Resonance instruments.

 Tecmag Inc - Houston, USA

 Designs, manufactures and installs instrumentation, including consoles, system
 upgrades, and probes, mainly for Magnetic Resonance Imaging (MRI) and Nuclear
 Magnetic Resonance (NMR) systems.

 

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