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 that trading in the first six months of the financial year to 30 November 2024 is in line with management expectations.
The Advanced Engineering Systems division performed well in the first half. Notably, Booth Industries has completed the endurance testing for the HS2 tunnel “doorset” and is now planning the deployment of new and advanced manufacturing technologies, to enable full scale production in 2025. These advances mean that Booth is well placed to benefit from further contracts relating to the HS2 project, as well as possible similar projects internationally.
The Company continues to enjoy good traction in signing up distribution partners for its Medical products in the US and Europe whilst volumes are in their ramp up phase. Revenues in this division are trading in line with management expectations with more material increases in volume expected to emerge in FY26.
