Niche engineer #avingtrans completes acquisition of @adaptiximaging
All the details here |
Been wondering if I should top up given this decrease in the share price
I think I will wait till I see what September 27th brings and am put off by the wide(albeit narrowing bid:offer spread) and a feeling that I have enough.
Given that we are being guided that adjusted Ebitda will be higher than last year's £12.7m perhaps eps will get over 20p from last year's 18.9p and who knows an increase in the 4p dividend, although I see we need to brace ourselves for a decrease in the healthy net cash balance .
Incidentally I note no change of ownership RNS in the last 11 months pointing to a stable shareholder base.
Be interesting to see if they reach out for the first time to retail investors like me, via the IMC or equivalent. I note that 12m of the 32m shares are held by the plus 3pc brigade which would lead me to think they have quite a few retail shareholders. |
Interesting potential non-medical uses for the Adaptix 3D X-ray technology. |
Another smart piece of corporate dealing making by niche engineer Avingtrans today.
All the details here. |
Opportunistic - if completed they'll get 80% of Adaptix for less than they paid for 11.9% initially.Clearly the rails have come off at Adaptix with regard to external funding and they've recently lost the Co-founder and CEO. Classic AVG distressed play. |
A rather interesting development, because at the AGM I attended two years ago, AVG stated that having taken a small holding in Adaptix on reflection it would have been better to go for a total buyout but they were too far down the road that now. Secondly it was stated that Adaptix were, ultimately looking to list on NASDAQ, I wonder why the change???? |
I note revenue up from last year's £100.4m and adjusted Ebitda this year also from last year's £12.7m also up with net cash down.
I plan to remain with what I have but not expecting any real movement in the share price over the rest of 2023.
Good for them to specify their understanding of market expectations. |
Another confident & 'in line' trading update from specialist engineer Avingtrans today - alongside a possible nice piece of M&A too.
All the details here. |
Solid set of results within difficult trading climate with record order book. Mopping up the rest of Adaptix which has serious potential to add value to the company. Well done, very happy with this. Surprised it is so quiet here. Another great stock under the radar and part of the Harwood folio. |
Quietly drifting up for a change. Little leaky squeak somewhere? Should be a good bit of news hopefully |
Bit more action today. Chris Mills of Harwood Capital have discussed prospects on AVG a couple of times. Break up value £5 but medical diagnostics potential £8 plus. Gl |
...in France |
EQT could be a great fit for AVG at its current lowly valuation of less than £19m . They are making good traction |
Cerrito - why not email Stephen King and ask the question he is very approachable having met him many times. sking@avingtrans.plc.uk |
Paul Scott in his report was right to flag receivables figure which equates to more than 6 months revenue. Not clear to me why they classified receivables in excess of a year as current. If there had been an IMC session I hope I would have organized myself to ask about this.
Good to see cash flow from operations healthy and share based compensation expenses modest at £118k in the half.
I found their comments in the podcast that the Oil Windfall tax had encouraged investment as counter intuitive after the announcements from HBR and ENQ cancelling projects and I will be interested to see if other suppliers there have the experience of Avg.
Today's share price weakness may reflect that eps this half year was 7.8p compared to 9 and 9.8p on H1 and H2 last year.
I plan to go back to sleep on Avg. |
Yes thanks for the link from me as well |
Appreciated Paul, added some decent detail above today's statement. |
In this fascinating interview, CEO Steve McQuillan & CFO Stephen King, take me through Avingtrans' in line H1'23 results & positive FY'23 outlook. |
Yes good solid results.
I see Finn do not change forecasts and have a 495 tp.
Note slow progress on Luton and let us hope house builders feel comfortable buying land again soon.
Interested to note their comment that after sales service the Achilles heel of engineering companies.
Too bad they have no IMC type event but I thought the report gave a very clear insight into what is going on.
Note that the Chairman did all the writing and the CEO did not get a look on |
Strong H1'23 numbers today, alongside an 'in line' outlook from niche products & services engineer Avingtrans.
All the details here. |
I understand we are having the interims next Wednesday |
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