17 January 2011
Avingtrans plc
("Avingtrans" or "the Company")
Trading Statement
Avingtrans plc (AIM:AVG), a manufacturer of critical components and associated
services to the medical, energy, industrial and global aerospace sectors, is
pleased to provide an update on trading for the current financial year.
The Board has been encouraged by a positive first half trading performance for
the six months ended 30 November 2010 and expects that as a result it will
exceed current market forecasts for the year to 31 May 2011.
The strong first half trading result has been underpinned by an encouraging
contribution from the Aerospace and Industrial products divisions. Within the
Aerospace division there has been a general improvement across all of the end
markets; bearing the fruits of previously announced new business wins and a
positive contribution from Sigma China, as output from this region continues to
increase.
Within the Industrial Products division, market conditions have strengthened
more quickly than previously anticipated, particularly in Germany where the
recovery appears to be sustainable.
Set against these highlights, the recovery within the Energy and Medical
division has been less marked, although the order book supports a stronger
second half
Roger McDowell, Chairman of Avingtrans commented:
"The Board is pleased that the Company has grown turnover and rebuilt
operational profitability in certain divisions more quickly than cautiously
anticipated by the Board at the time of our preliminary results for 2010. While
our end markets remain challenging, the operational improvements across our
divisions, overseen by the current management team, stand the Company in good
stead in the current financial year and beyond and I look forward to providing
a more detailed update at the time of our interim results, which we expect to
release on 9 February 2011."
Enquiries:
Avingtrans plc 0115 949 9020
Steve McQuillan, CEO
FinnCap 020 7600 1658
Marc Young / Henrik Persson - Corporate Finance
Brian Patient / Steve Norcross - Corporate Broking
Hansard Communications 020 7245 1100
Nicholas Nelson / Guy McDougall
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.