Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Avingtrans flags record full-year revenue
(Sharecast News) - Energy, medical, and industrial components, modules, systems, and services provider Avingtrans reported record revenue from continuing operations for the financial year ended 31 May in an update on Wednesday. The AIM-traded firm said adjusted EBITDA from continuing operations was significantly ahead of market expectations, set to be between £13m and £14m.
That performance was partly due to lower-than-budgeted commercialisation costs in the medical division, some of which were deferred to the 2025 financial year.
Net debt, excluding IFRS 16, stood at £6.1m - better than anticipated, and supported by the completion of key projects and improved cash receipts.
The advanced engineering systems (AES) division delivered robust results, maintaining momentum into the new financial year.
Ormandy achieved its best results since acquisition, reflecting successful integration and operational improvements.
Slack & Parr, acquired in August, also posted a positive EBIT in its first year, while Hayward Tyler recorded its best results since acquisition.
In the medical and industrial imaging (MII) division, significant progress was made with novel 3D x-ray products and helium-free MRI systems, receiving positive market feedback at recent trade shows.
Adaptix, acquired in September, had integrated successfully, equipping its Scottish facility to produce key system components for veterinary and orthopaedic products.
Initial sales of veterinary and non-destructive evaluation (NDE) products had started in the UK and the US, with an expected volume increase in the current financial year.
Magnetica had meanwhile transitioned to larger facilities in Brisbane and Houston, preparing for volume production of MRI systems starting in the new financial year.
Progress in finalising system development had been substantial, but increased cybersecurity scrutiny required by the FDA had delayed 510(k) approval to the first half of 2025, after which sales in the US would start immediately.
Both Magnetica and Adaptix had appointed initial distributor partners in the UK and the US, enhancing their market presence.
"We are very pleased with the group's performance reporting record revenue with Adjusted EBITDA ahead of market expectations," said chief executive officer Steve McQuillan.
"Lower commercialisation costs in the medical division, some of which have been delayed into the 2025 financial year, have contributed to this performance but we are pleased that the group is entering 2025 with record-level revenue from continuing operations, leading the board to view the outlook for this year with confidence."
Avingtrans said it would publish its audited results for the year ended 31 May on 25 September, providing a further performance update at that time.
At 1459 BST, shares in Avingtrans were up 0.78% at 388p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.