Avingtrans has produced a resilient interim result and continues to trade in-line with expectations. Whilst revenue was stable versus H1 FY2020, EBITDA rose by 36.6% due to further post-acquisition improvement at Booth and Energy Steel, and an improved margin mix due to cost reduction and better project margins. We have updated our forecasts for the recent merger of Sci-Mag and Tecmag with Magnetica, where the Group now has a 58.1% interest. Despite forecasting increased losses for the Medical D ....
10 Feb 2021
Interim results show good resilience
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Interim results show good resilience
Avingtrans plc (AVG:LON) | 390 0 0.0% | Mkt Cap: 129.1m
- Published:
10 Feb 2021 -
Author:
Richard Hickinbotham -
Pages:
3
Avingtrans has produced a resilient interim result and continues to trade in-line with expectations. Whilst revenue was stable versus H1 FY2020, EBITDA rose by 36.6% due to further post-acquisition improvement at Booth and Energy Steel, and an improved margin mix due to cost reduction and better project margins. We have updated our forecasts for the recent merger of Sci-Mag and Tecmag with Magnetica, where the Group now has a 58.1% interest. Despite forecasting increased losses for the Medical D ....