Avingtrans (AIM:AVG) – trading update reassures
The manufacturer of critical components and associated services to the medical, energy, industrial and global aerospace sectors (broad mix!) issued a positive trading update, marginally boosting the share price
Group sales are expected to be approximately 20% ahead of the previous year (2011: £26m), with all divisions contributing. Similarly, operating profit is also expected to be ahead of last year (2011:£1.7m) and in, reflecting on-going improvements in the Group’s performance. The Company emphasised improved overall performance in the Aerospace division. This divisional performance is all the more creditable, given that the Group continues to invest in building the recently formed Sigma Composites business and, while initial sales levels have been lower than hoped for, the belief remains that this investment will contribute strongly to the Aerospace division in the…