Avingtrans Plc (AVG.L), a manufacturer of engineered components and systems, on Wednesday reported higher pre-tax profit in fiscal year 2025, backed by stronger revenue. The company also lifted its dividend.
Regarding the current trading, the company said that in the quarter since May 31, it has performed in line with management expectations, with the strong momentum of FY25 continuing into FY26, mainly bolstered by contract wins in AES segment.
Looking ahead, Roger McDowell, Chairman, added that the firm has strong order book moving into fiscal 2026, and, that it anticipates further organic growth as a Group this year.
Further, the firm announced that Austen Adams, Divisional Managing Director of AES, will be joining the Board in the position of Group Chief Operating Officer, with expected approval at the Annual General Meeting in November.
Meanwhile, the shares were losing around 3.86 percent on the London Stock Exchange, to trade at 471.11 pence.
In the first half, profit before taxation climbed to 6.86 million pounds from 4.83 million pounds a year ago.
Profit attributable to owners of the firm increased to 6.56 million pounds from 4.83 million pounds last year. On a per share basis, the earnings improved to 18.6 pence from 10.9 pence in the prior year.
Adjusted profit before tax from continuing operations increased to 8.6 million pounds from 7.3 million pounds last year, reflecting strong underlying growth in AES results alongside lower restructuring costs.
Adjusted earnings per share from continuing operations rose to 23.7 pence from 18.5 pence a year ago.
Adjusted EBITDA from continuing operations was slightly ahead of upgraded market expectations at 16.7 million pounds from 14 million pounds a year ago.
Revenue for the firm improved 14.5 percent to 156.41 million pounds from 136.62 million pounds in the prior year.
The revenue from AES segments improved 13.9 percent to 151.46 million pounds from 132.94 million pounds.
The revenue from the MII segment rose to 4.95 million pounds from 3.68 million pounds in the prior year.
The firm proposed a final dividend of 3 pence per share, making a total dividend of 4.9 pence per share, higher compared to 4.7 pence A year ago. The dividend is payable on December 19 to shareholders on the register on November 7.
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