Share Name Share Symbol Market Type Share ISIN Share Description
Avingtrans Plc LSE:AVG London Ordinary Share GB0009188797 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.00p -1.19% 250.00p 248.00p 252.00p 253.00p 250.00p 253.00p 17,778 15:47:41
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 21.2 0.2 112.3 2.2 47.93

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Date Time Title Posts
07/4/201717:46The Crown and Glory is AVG2,457.00
06/6/201612:06AVINGTRANS.......Buy 68.5p cash for 50p9.00
07/1/200521:31Avingtrans - an easy 25% ?149.00
16/12/200408:21Avingtrans Profiting From Speed Cameras13.00
30/6/200310:41Paving the way to pay dividends3.00

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Avingtrans Daily Update: Avingtrans Plc is listed in the Industrial Engineering sector of the London Stock Exchange with ticker AVG. The last closing price for Avingtrans was 253p.
Avingtrans Plc has a 4 week average price of 227p and a 12 week average price of 189p.
The 1 year high share price is 258.50p while the 1 year low share price is currently 148p.
There are currently 19,171,123 shares in issue and the average daily traded volume is 33,539 shares. The market capitalisation of Avingtrans Plc is £47,927,807.50.
dgwinterbottom: Anyone know the reason behind the 9p share price jump today?
wilmdav: "It’s not difficult to see why, given that the company’s share price is trading 30 per cent below pro-forma book value of 270p a share, even though I estimate that Avingtrans retains net cash of £26.1m, a sum worth 143p a share, after accounting for transactions costs on the disposal and working capital movements. This means that we are effectively getting £10.1m, or 55p a share, of fixed assets in the price for free, in addition to £4.6m of current assets. That’s anomalous....." I don't yet see where Simon T gets his 'pro-forma' book value of 270p from. NAV at 31/05/16 was £64.8m. Subtract £19.4m for cancelled shares, leaving £43.4m or 236p (18.318m shares).
steve3sandal: Clearly the IC tip today has driven the price up. This is all out there, nothing Simon T hasn't written up before. Potted as I don't want to breach any copyright. Avingtrans (AVG), a maker of critical components and services to energy, medical and industrial sectors, is a classic Benjamin Graham value play, and one where the investment risk looks weighted firmly to the upside. The board’s investment strategy is to acquire assets, restructure them to improve efficiency, and then sell them on to release the hidden value in the balance sheet. Importantly, the directors have been rather successful.... Under the leadership of chief executive Steve McQuillan, finance director Stephen King and chairman Roger McDowell, who between them own almost 10 per cent of the shares... It’s not difficult to see why, given that the company’s share price is trading 30 per cent below pro-forma book value of 270p a share, even though I estimate that Avingtrans retains net cash of £26.1m, a sum worth 143p a share, after accounting for transactions costs on the disposal and working capital movements. This means that we are effectively getting £10.1m, or 55p a share, of fixed assets in the price for free, in addition to £4.6m of current assets. That’s anomalous..... For example, Avingtrans’ energy and medical division diversified into the materials technology market last year, winning a three-year contract worth £3.5m to provide composite components for airport scanners with Rapiscan, a leading security screening provider based in California. Avingtrans is providing key components for Rapiscan’s new and groundbreaking airport scanner, the RTT110 (real time tomography), the first scanner to successfully pass the European Civil Aviation Conference’s (ECAC) Standard 3 threat detection test for baggage-borne explosive risks – a standard that will become compulsory.... In addition, Avingtrans’ Stainless Metalcraft subsidiary signed a framework agreement worth £1m a year with Bruker BioSpin AG, a Switzerland-based market leader in analytical magnetic resonance instruments, to produce high integrity cryostat components for Bruker’s nuclear magnetic resonance systems (NMR). NMR spectroscopy complements other structural and analytical techniques, such as X-ray, crystallography and mass spectrometry, and can be used alongside MRI-related technology to provide multidimensional images and spatially resolved information. The division also signed a 10-year agreement worth £9m to produce high integrity cryostat components for NMR.... I would also flag up that Metalcraft has a lucrative 10-year contract with Sellafield, worth £47m, to provide waste storage containers for the Cumbrian nuclear power station. Phase one of the project is worth between £5m and £8m over a two- to three-year period and covers the set-up and development of a production facility for nuclear waste storage containers. During the second phase,..... It was a landmark contract for Metalcraft and Avingtrans’ directors rightly describe the potential in nuclear decommissioning as “a cracking opportunity”. I wholeheartedly agree because the first tranche of the contract represents just 10 per cent of the potential business at Sellafield and the nuclear power station will need more than 40,000 of these waste containers over the next 20 to 30 years, according to chairman Roger McDowell. Furthermore... True, with the company’s highly profitable aerospace division sold, Avingtrans’ profits will be modest in the current financial year to the end of May 2017 before the full benefits of the aforementioned contract wins kick in. This explains why analyst David Buxton at FinnCap believes that pre-tax profit can rise more than sixfold to £1.3m on revenue of £31m in the 12 months to the end of May 2018. But the real opportunity here is to scale up the retained businesses through earnings-accretive acquisitions and repeat the success enjoyed in scaling up the aerospace division. And that’s simply not being priced in. Strip out net funds of 143p a share and the shares are effectively being valued on six times forward earnings.....
cowlid: I'm a little confused by the tender document in that I can't understand why anyone would opt in....If I understand correctly, we have the option to sell half our shares for roughly the current share price. Am I correct in thinking that The net result if his happens is that the number of shares in circulation will drop by 50% and therefore the share price should increase??If so, why on earth would one choose to take up the offer? If the majority reach the same verdict then there won't be enough interest for the tender to take effect and the company don't pay out the money....... If I'm missing something obvious, please enlighten me!!D
cisk: Hi DGW, Unfortunately I won't be able to attend as will be out of the country - typically the one that's geographically easier is when I'm not here! But the news was good this morning with the tender at 200p, however I've no plans to tender any. Indeed with the market cap getting smaller post-tender, any good contract news etc is bound to have more of an impact on the share price. All bodes well for the future and I'll be adding on any weakness. If you don't know them, check out Melrose. I really think this is what the guys are modelling themselves on, and a great strategy in their business area I think. Just curious: what happens if not enough people tender their shares to achieve the buyback target?
leadingladies: In view of today's announcement to hand back to shareholders £1 per share anyone any idea how this is likely to affect the co.s share price ?
cisk: very interesting news this morning: Avingtrans (AIM:AVG) announces that it has entered into an agreement to sell (the "Transaction") its Aerospace Division (Sigma Components) to Anthony Bidco Limited (the "Purchaser") a company controlled by funds managed by Silverfleet Capital Partners LLP ("Silverfleet Capital") for an enterprise value of GBP65 million which, after adjustment for debt and working capital and associated transaction costs, will result in the Company receiving proceeds of approximately GBP52 million (before escrow arrangements). I haven't looked at the numbers post-disposal (and note the composites business is kept) but suspect, given the value realised from this sale, the share price looks materially undervalued. Ok so I invested in the company originally because of the aerospace division, but the remaining parts look to have a great future, the Sellafield contract in particular looks to have great potential. The management look to have done a great job at realising value, indeed this company looks more like a mini-Melrose, buying businesses, building them and selling them.
bookbroker: I don't think the recent pull-back too much to concern, profit taking in part against a good rise this year! The important thing to remember is that much of the news released about orders this year is that it is the future year's growth trajectory will be higher, these will take a while to hit the bottom line, but the market always looks forward, that is the key, and it is up to the co. to keep costs in check in the meantime! The contracts awarded suggest a consistent and growing revenue outlook, especially the deal with BNFL, so I think it's steady as she goes, we have seen some gap ups in the share price, and the pull-back may reflect a little of that, but current trading performance should nonetheless not be disregarded despite this stock being tomorrow's story!
dgwinterbottom: I noticed on my Sharescope data page last night that the forecast turnover for y/e may 2014 is £62m, that, when divided by the 27.58m shares in issue gives a sales per share figure of 225p. If then divide current share price say 140p by 225p gives a PSR of .62. Given there is also 12 month relative strength on the share price that indicates a potent signal I believe........ Could anyone comment on my thought please!
cisk: DGW, if memory serves AVG won the rolls royce contract from TCN, was it last year? so interesting to see that they have bought that business from them. I know that TCN (belatedly) set up an operation in China - not sure whether that was manufacturing similar tubing / pipe assemblies. I wonder if they are limited on capacity, hence the reason for the acquisition, or whether TCN came to them effectively throwing in the towel in that area of competition. All questions for AVG management... The share price reaction to this morning's RNS is a little severe IMO - they say results will be broadly in line with expections (i.e. slightly lower) and the order pipeline is good. Customers switching product mix is a strange statement given the long lead times that many products produced by AVG have - after all, designs for precision components in aircraft aren't done overnight. So it must be some other parts of the business... Any of the regulars fancy a trip to meet the management, so we can ask the questions in person? As for currency weakness, I'm always perplexed when the city marks the share price down of a company when they state this - it's not rocket science to realise that a company that exports a lot and operates in industries not natively denominated in GBP will have currency fluctuations... Regards Cisk
Avingtrans share price data is direct from the London Stock Exchange
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