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Avingtrans half-yearly profit halves on weakness in Energy Steel and Booth businesses

By BFN News | 07:53 AM | Wednesday 26 February, 2020


Medical and energy engineering company Avingtrans said half-year profit halved as performance was hurt by weakness from the acquired Energy Steel and Booth businesses. For the six months ended 30 November 2019, pre-tac profit fell to £0.3m from £0.6m on-year and revenue grew by 15.0% to £54.8m. Peformance was dampened by the anticipated first-half loss before tax of £0.9m at Energy Steel and Booth businesses, the company said. The interim dividend was increased by 7.1% to 1.5p per share. 'The positive crop of orders underpins our on-going confidence in the outlook,' the company said. Story provided by StockMarketWire.com

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