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14 Jan 2019 | 09:55

Avingtrans says performance in line with expectations amid boost from acquisitions

Avingtrans, an aftermarket energy and medical services provider, said Monday it had continued to perform well as first-half trading was in line with market expectations supported by acquisitions.

The former Hayward Tyler businesses, including Peter Brotherhood, were continuing to improve and now fully integrated into the Avingtrans structure, the company said.

Peter Brotherhood's large government contract, announced on 25 June 2018, was proceeding to plan and prospect pipeline for the Hayward Tyler businesses was 'robust,' it added.

Metalcraft's three metre cubed box contract, meanwhile, was now in production, and the company expected it to achieve full current production capacity by financial year end.

The performance of Ormandy Group, acquired in February last year, was steadily improving and the outlook for the business was 'strong.' Integration was also underway at Tecmag, acquired in October last year, it added.

At 9:55am: (LON:AVG) Avingtrans PLC share price was +8p at 196.5p

Story provided by StockMarketWire.com
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