Results show an encouraging increase in profits driven by previous restructuring which has turned round trading at Booth and Energy Steel, with a better margin mix overall. This was produced from a stable sales base, which is creditable given some contract delays due to COVID. Only minor changes to forecasts factoring in the recent Magnetica deal, which enhances its compact MRI business. We raise our price target to 345p, and believe the shares look decent value.
10 Feb 2021
Avingtrans - Interims – stable trading, strong margin improvement
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Avingtrans - Interims – stable trading, strong margin improvement
Avingtrans plc (AVG:LON) | 405 0 0.0% | Mkt Cap: 134.0m
- Published:
10 Feb 2021 -
Author:
David Buxton -
Pages:
8
Results show an encouraging increase in profits driven by previous restructuring which has turned round trading at Booth and Energy Steel, with a better margin mix overall. This was produced from a stable sales base, which is creditable given some contract delays due to COVID. Only minor changes to forecasts factoring in the recent Magnetica deal, which enhances its compact MRI business. We raise our price target to 345p, and believe the shares look decent value.