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
  0.00 0.0% 270.00 260.00 280.00 270.00 270.00 270.00 6,757 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 113.9 3.0 4.4 61.4 86

Avingtrans Share Discussion Threads

Showing 2951 to 2971 of 2975 messages
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I have held shares in AVG since the Haywatd Tyler takeover. It is a well managed business and I added twice earlier thia year. The Booth acquisition is a winner. A great play on nuclear power servicing and a beneficiary of higher infrastructure spend in UK and US. Glad that there's the prospect of a dividend return next year together with potential deals during a difficult time for potential targets.
Tipped by Simon Thompson in the IC today.
value hound
Avingtrans has secured a multi-year contract worth £36m to supply cross passage doors for the HS2 rail link. Most of the revenues for this contract will be generated when the door manufacturing and installation begins in 2025 with a project completion date of 2030. The assets of Booth were acquired in July 2019 from the administrators for only £1.8m. More on the Investor's Champion website.
Not quite sure why you're getting so het up Mr Macgregor, AVG have committed as part the planning conditions to create a brand new factory in Luton more suitable to their current needs so maintaining jobs. The new commercial part of the housing development is expected to create a further 370 jobs. The previous investment increased the factory by 40% but the remaining 60% was still old and was carried out by somewhat clueless prior management. I assume some of the investment in plant will be transferred to the new premises. AVG's job is to create value for their shareholders -they obviously feel a new more efficient unit with better transport links whilst making some potential windfall property gains takes the company forward. If you're truly worried about government money being spaffed you'd be better off looking at the £5.5bn spent on PPE supplied by companies involved in Pest Control and Financial services!
presumably they'll be able to reestablish this elsewhere, looks as though the present site is handy for the railway, airport and town centre so zoned for residential.
1000 units x £15,000 per plot/unit = £15m. I have no idea but it sounds like PIE. I remember the Royal visit whilst all around HAYT was leaking cash badly.
Any ideas what the site may be worth now they have pp?
If you count remote as 5 minutes walk from Luton Parkway Station. New Redrow development next door.
At first glance good results and indeed there seems to have been a leak given the share price increase yesterday afternoon. I see they mention the £4.8 Korea deal and £2.5m East Kilbride deal and I could see no prior reference to them. I had not seen before they were planning to close the Luton plant-I recalled all the fanfare when Prince William went there a few years ago. Good thinking though from my memory of going to a Hayd AGM some years ago it is in a remote and industrial part of town.
I am having a look here to see if I should buy more shares, having reduced quite a lot three to four weeks ago. Indeed I would have reduced earlier if I had done then something I only did this weekend and have a look at the numbers in the interims which to me were rather disappointing compared to the upbeat comment. I take the cancellation of the dividend -£450k-in my stride; given the good vibes about Booth I am a bit surprised that they are deferring the works at Bolton. I would have thought that the £8m of headroom in their facilities would be more than sufficient and I can go along with their comment that their bankers will be supportive. That said the footnotes of the AR do not tell us much about their then banking arrangements. They may want to have their powder dry in case there are distressed sales of companies they can integrate. The board will also be mindful of the relationship between operating profit and finance costs in the interims. The reduction in board compensation a good move, saving both almost £200k on an annual basis and also good PR. Indeed I see last year the CEO and CFO earned £424K and £344k which given the marcap has peaked at £90m plus and is currently £60m is generous. Note the other employees-monthly average 764- got between them (or more precise cost the company) £35.6m an average of about £47k which is higher than I would have expected and suggests a skilled work force. FWIW which to me is very minimal, I see that net assets at 11.19 were at a very slight premium to the current marcap but as nearly half of net assets were made up of goodwill and other intangibles, very little store can be placed in this. It seems to me that the shares are pretty fairly priced at this time. The company does have a very stable core of shareholders with no recent changes of significance and they are right that big picture they are in the right businesses, That said they do need to increase their returns to justify the current mar cap of £62m odd and we trust that no major shareholder has a desire or need to reduce. Welcome the perspective of others.
As with PRES this morning, could have been worse. Interested in their comments about China back to normal though I need to check where they are in China : good to see Board taking a financial hit and no surprise about the dividend and that they have financial flexibility. Interested in their comment that their service people cannot travel to the plants they service and let's pray there are no health and safety incidents around the world that need their attention. On balance given the current share price, I think the market will be reassured.
This is on my watchlist but bad luck going into this with so much debt so it'll stay on my watchlist.
We don’t hear much about Crown nowadays - I see that Hill & Smith had good results recently - any possible read through to Crown?
The above post has been edited twice. Hope I have now got it right.
Whilst the IFRS 16 debt adjustment is not a major issue for AVG, it will crop up elsewhere, so I have had a closer look at it. Prior to IFRS 16, a finance lease was defined as one where ownership of the asset is, or can be, transferred to the lessee at the end of the term, sometimes after a ‘balloon’; payment. Likewise an operating lease was defined as one where ownership of the item remains with the lessor during and after the term. The two types of leases were accounted for differently. Finance leases were treated more or less in accordance with what IFRS 16 now prescribes for all leases. The current value of an asset was added to Property Plant & Equipment (P.P. & E.) in the balance sheet and a liability for outstanding repayments added to Liabilities. The asset was depreciated yearly and the liability also reduced as repayments were made. The interest portion of the yearly rental was included in Finance costs in the P & L account, which also recorded depreciation, presumably at a rate which covers repayments of the principal portion of the rental. For operating leases, the full rental was treated as an expense in the P & L but the financial commitment was entirely off balance sheet. For AVG the introduction of IFRS 16 has resulted in an increase of £8.0m to P.P.& E. and an additional lease liability of £9.7m. (They give a technical reason why these two amounts are not the same.) Now imagine AVG had borrowed £8m to buy the assets instead of leasing them. The amount would initially have gone into P.P. & E. as an asset on the balance sheet, and a roughly equivalent amount would have gone into Liabilities. The interest on the loan would be recorded in Finance costs in the P & L account, which would also record depreciation. This is the same treatment as is now required for all leases. Hence I think it is meaningful to say that AVG has £17m of debt rather than £8.3m. They are of course justified in quoting the £8.3m figure in order to provide a comparison with the prior end of year period of £2.0m. If the prior year had been restated (which it was not) the increase in net debt would still have been £6.3m or thereabouts. So a lease for an asset valued at £10m with 10 years outstanding would account for approximately ten times more debt than a lease for the same original value with only one year remaining. True, in many cases, such a lease would be renewed at the end of its term, incurring another £10m or so of debt in the following year. But if the asset had been originally purchased by means of a loan, the asset would need to be replaced or renovated at some point, which would have to be financed. Edited on 05/03/20.
Something of a nonsense. I have to confess I sold out the day before results as mine always bomb on solid progress which is what's occurring here. I will be back.
Neither am I but basically the cost of the leases are added to the liabilities and a corresponding right of use asset is added to the asset side of the balance sheet generally roughly canceling each other out. So I don't think it should just be added to debt otherwise a company with a 10 year lease would have 10x more associated debt than a company with a year remaining (and plans to renew)
Hi Wilmdav,Understood, my point was that adjusted debt (excluding IFRS 16 rent - which isn't actually debt is it but an obligation) is revised by Finncap to be less than previously forecast.
I thought the results decent, whilst LFL (excluding Booths & Energy Steels) revenue flat, margins were improved and underlying profit up 63%. Booths looks as though it'll be contributing before too much longer, Energy Steels larger losses. As you've stated Finncap leave the 16.5p eps unchanged but reduce the YE debt from £9.2m to £7.8m.
FWIW, I see that Finncap reiterates its rating with a tp of 315p
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