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 Shares Traded Last Trade
  -8.00 -2.78% 280.00 7,077 13:05:32
Bid Price Offer Price High Price Low Price Open Price
270.00 290.00 288.00 280.00 288.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 113.91 3.04 4.40 63.6 89
Last Trade Time Trade Type Trade Size Trade Price Currency
13:32:29 O 1,239 272.00 GBX

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Date Time Title Posts
02/10/202021:54The Crown and Glory is AVG2,777
06/6/201612:06AVINGTRANS.......Buy 68.5p cash for 50p9
07/1/200521:31Avingtrans - an easy 25% ?149
16/12/200408:21Avingtrans Profiting From Speed Cameras13
30/6/200310:41Paving the way to pay dividends3

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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 288p.
Avingtrans Plc has a 4 week average price of 240p and a 12 week average price of 228p.
The 1 year high share price is 332.50p while the 1 year low share price is currently 185p.
There are currently 31,814,094 shares in issue and the average daily traded volume is 15,994 shares. The market capitalisation of Avingtrans Plc is £89,079,463.20.
westofengland: 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.
cockerhoop: 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!
cerrito: 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.
wilmdav: 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.
cerrito: I find it frustrating when companies do not spell out what their understanding of market expectations are. I am about to ask them to spell this out in future but it is an uphill fight. As you say fillipe the price did get frothy and for me no reason for it to fall today. I find this an odd share. I pay my holding here very little attention and am content to watch the share price go up. The shareholding base seems very stable but the plus 3%ers have 44% of the shares so I would expect more activity. Did anyone make the AGM? I am reluctant to go from London to Birmingham for it as I am concerned I would be the only one there.
fillipe: f
fillipe: AVG being liked a lot, if the trades today are anything to go by. f
jeff h: Simon Thompson of the IC view for you Cerrito:- Avingtrans (AVG:245p), a designer, manufacturer and supplier of original equipment, systems and aftermarket services to the energy and medical sectors, announced a major earnings beat for the 2018-19 financial year ahead of the results when I raised my target price from 275p to 300p (‘Avingtrans posts major earnings beat’, 26 June 2019). Shareholders have been rewarded with a higher dividend (3.8p a share) for the eighth consecutive year. In the event, the results were even better than house broker finnCap’s upgraded expectations. Avingtrans reported a 34 per cent rise in revenue to a record high of £105m, partly driven by acquisitions but also driven by 11 per cent organic growth. It’s a more profitable income stream, too, as operational improvements made meant that underlying pre-tax profit surged by 124 per cent to £5.3m, and adjusted earnings per share (EPS) increased by 76 per cent to 14.9p on a lower than expected tax charge. That was well ahead of finnCap’s 12.7p upgraded EPS forecasts in June. There is scope for outperformance in the new financial year, too. Factoring in a combination of ongoing strong organic growth and the benefits of some small acquisitions, finnCap’s forecasts annual revenue of £125m (over 80 per cent is already covered by the order book) and a 17 per cent rise in pre-tax profit to £6.2m. On this basis, expect a near 11 per cent hike in EPS of 16.5p. However, Avingtrans has £35.4m of tax losses available from acquisitions made, and UK corporation tax rate will reduce to 17 per cent in April 2020. finnCap’s EPS estimate is looking conservative in my view. Operationally, Avingtrans’ shrewd management team has driven a sustained improvement in the performance of the Hayward Tyler business, acquired in September 2017, which forms part of its engineered pumps and motors division. Finance director Stephen King told me during my results call that the unit, which accounts for almost half of group turnover, posted a 12.3 per cent cash profit margin and, with the benefit of further operational improvements, should lift margins into the 13 to 15 per cent range this year. The unit has secured a number of key contracts this year, including a £10m award with Vattenfall in Sweden for nuclear life extension equipment, and £4.8m of orders to provide critical pumps and spare parts to nuclear reactors in the US and South Korea. It’s worth noting, too, that higher margin aftermarket sales are increasing as a proportion of the overall revenue mix (up from 42 to 45.5 per cent), a trend that is set to continue, and boosted by the small bolt-on acquisition of Energy Steel, a North American manufacturer of components for the civil nuclear power industry. The U.S.A. is the biggest civil nuclear market in the world, having 99 reactors that account for 30 per cent of the world’s nuclear electricity. Hayward Tyler has over 600 pumps in active service in nuclear applications globally, and the acquisition of Energy Steel expands the company’s product lines for both new and existing customers. Avingtrans earned £9.4m of cash profit in the 2018/19 financial year which funded £1.1m of dividends, a £2.9m investment in capital expenditure, £400,000 in restructuring acquisitions, and a reduction in net debt from £7.1m to £2m. The proven track record of the board to identify turn round situations, improve their operational performance and then reward shareholders with hefty cash returns when they are sold is the main reason why I included the shares in my market-beating 2017 Bargain Shares Portfolio. Priced on a substantial discount to analysts’ 335p a share sum-of-the-parts valuations, I maintain my positive stance with the shares rated on a prospective price/earnings (PE) ratio of 15, falling to a PE ratio of 12 in the 2020/21 financial year when finnCap predicts Avingtrans will make EPS of 20.3p. Buy.
cerrito: The share price of some suppliers to the oil and gas industry have had a good run up in the last week and AVG’s has gone nowhere…in the context that both the original HAYT and PB have subsea business. That said O&G revenues for overall HAYT in the year to 3/17 were just 15% of revenues so understandable that the AVG share price continues to slumber.
dgwinterbottom: Hmm..... given the AVG share price fall and the HAYT rise, I am tempted to think AVG will walk away?????
Avingtrans share price data is direct from the London Stock Exchange
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