Avingtrans sees revenues increase

Posted on 30 Mar 2018 and read 632 times
Avingtrans sees revenues increaseCambridgeshire-based engineering group Avingtrans (www.avingtrans.plc.uk) has seen its revenues increase following the acquisition of energy sector specialist Hayward Tyler Group (HTG), completed in September for £29.5 million.

Its turnover was £26.9 million in the six months to 30 November 2017, up from £9.6 million in the previous period, but its pre-tax losses widened to £4.8 million (from £589,000) after its administrative expenses soared to £9.2 million.

Chairman Roger McDowell said: “Following the acquisition of HTG, we have moved swiftly to improve the operating performance of the businesses. Operationally, the main business units are on track, and we have had an excellent response from the management and employees within HTG.

"The potential to develop exciting domestic and international opportunities in both the energy and medical sectors is evident, with great customers and prospects underpinning a promising outlook.”

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