A positive update from Avingtrans - trading in 1H26 (6 months to end Nov) was in line with management’s expectations and FY26 guidance has been reaffirmed. Positive momentum is highlighted across the AI-and data-centre related businesses whilst increased interest in next-generation nuclear is also called out. We leave our FY26 forecasts unchanged, anticipating healthy double-digit sales growth (12%), translating to 38% PBT growth. BUY rec reaffirmed.
