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Avingtrans Plc report a robust set of results

Avingtrans PLC (LON:AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, has announced its preliminary results for the year ended 31 May 2023.

Financial Highlights

·      Revenue from continuing operations increased by 17.5% to £116.4m (2022: £99.1m)

·      Gross Margin reduced slightly to 32.9% (2022: 34.1%), driven by changes in the OEM/AM mix

·      Adjusted1 EBITDA from continuing operations increased by 10.6% to £13.7m (2022: £12.4m)

·      Adjusted1 PBT from continuing operations increased by 11.1% to £9.0m (2022: £8.1m)

·      Adjusted1 Diluted earnings per share from continuing operations increased by 8.3% to 23.4p (2022: 21.6p)

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