Notice of Results and Q1 Trading Update

RNS Number : 9593Y

Avingtrans PLC

15 September 2020

 

15 September 2020

Avingtrans Plc

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

Notice of Results and Q1 trading update

Avingtrans PLC (AIM: AVG), which designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy and medical sectors, announces that the Group's preliminary Results for the period ended 31 May 2020 will be published on Wednesday 30 September 2020.

There will be a webinar / conference call for equity analysts at 09:30 on the day of results, 30 September 2020, hosted by Chief Executive , Steve McQuillan; and Chief Financial Officer, Stephen King.  Anybody wishing to register for the call should contact   [e-mail]   where further details will be provided.

Overall order intake during the first quarter of the financial year (1 June - 31 August) has been in-line with management expectations and trading conditions are gradually normalising. Notable orders secured in Q1 include further nuclear sector contract wins: a US $2.8 million contract in South Korea and a £1.5 million contract with a nuclear plant operator in the UK.

Hayward Tyler, Inc. has secured another nuclear contract with our South Korean customer, for US $2.8m, to provide critical nuclear safety related spare parts to reactors in South Korea for Essential Service Water pumps, which is expected to be delivered in FY21. Hayward Tyler Fluid Handling has also secured a further contract, worth £1.5m, for replacement valves for a nuclear plant operator in the UK.

Recent trading demonstrates the Group's on-going ability to win important new work both in the UK and globally. Both contracts underpin the Group's international reputation for engineering excellence in the nuclear industry.

Enquiries:

Avingtrans plc Steve McQuillan, CEO Stephen King, CFO	0135 469 2391
N+1 Singer (Nomad and Broker) Shaun Dobson/ Alex Bond (Corporate Finance) Rachel Hayes (Corporate Broking)	020 7496 3000
Newgate Communications (Financial PR) Adam Lloyd Tom Carnegie	020 7653 9850

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, UK and USA, China and India Specialises in the design, manufacture and servicing of performance-critical motors and pumps for challenging environments. Energy Steel, Inc - Lapeer, 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 and Chengdu, China 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 &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 Peter Brotherhood - Peterborough, UK Specialises in the design, manufacture and servicing of performance-critical steam turbines, turbo gen-sets, compressors, gear boxes and combined heat and power systems. Composite Products Ltd - Buckingham, UK Centre for composite technology, parts and assemblies, serving customers in industrial markets. 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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