Avingtrans’ year end update has confirmed FY18 adjusted PBT in line with market forecasts, along with slightly higher than expected net debt due to working capital absorption from strong trading. Management’s expectations for FY19 have increased. This is driven by a new contract win for c.£5m over two years and improving margins as the integration of Hayward Tyler and Ormandy progresses. Our adjusted PBT forecast is unchanged for FY18, but we have upgraded our FY19 forecast by 10% - our second m ....
25 Jun 2018
Strong year end trading; FY19 PBT increased by 10%
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Strong year end trading; FY19 PBT increased by 10%
Avingtrans plc (AVG:LON) | 400 40 2.6% | Mkt Cap: 132.4m
- Published:
25 Jun 2018 -
Author:
Jo Reedman -
Pages:
3
Avingtrans’ year end update has confirmed FY18 adjusted PBT in line with market forecasts, along with slightly higher than expected net debt due to working capital absorption from strong trading. Management’s expectations for FY19 have increased. This is driven by a new contract win for c.£5m over two years and improving margins as the integration of Hayward Tyler and Ormandy progresses. Our adjusted PBT forecast is unchanged for FY18, but we have upgraded our FY19 forecast by 10% - our second m ....