🚀 Exciting News from Avingtrans Plc! 🚀
#Avingtrans PLC (AIM: AVG) announces a #positive trading update for the financial year ended 31 May 2024!
📈 #Record Revenue: It achieved record-level revenue from continuing operations, aligning with market expectations.
💼 Adjusted EBITDA: Significantly #ahead of expectations, projected between £13-14m, thanks to lower-than-budgeted costs in Medical Division.
💰 Net Debt: Better than anticipated at £6.1m, bolstered by key project completions and enhanced cash receipts.
🔧 Advanced Engineering Systems Division (AES):
Strong performance and #growth.
Ormandy: #Best results since acquisition.
Slack & Parr: Successful first-year integration with positive EBIT.
Hayward Tyler: Best results since acquisition.
🩺 Medical & Industrial Imaging Division (MII):
Progress in novel 3D X-ray and helium-free MRI systems.
Successful integration of Adaptix, with sales initiated in the #UK and #USA.
Magnetica: New premises in Brisbane and Houston, ready for volume production in FY25. Expected FDA 510(k) approval in early 2025.
📅 Save the Date: The audited results for the year will be published on 25 September 2024, with a further performance update.
Steve McQuillan, CEO, comments: "We're delighted with our record revenue and Adjusted EBITDA surpassing market expectations. Entering FY25 with confidence, we look forward to continued success."
#Avingtrans #TradingUpdate #FinancialResults #RecordRevenue
Roger McDowell Singer Capital Markets Shaun Dobson Alexander Bond Oliver Platts Graham Herring Zach Cohen #Engineering #MedicalImaging #BusinessGrowth
Award-Winning Executive Pharmaceutical Marketing Leader Specialized in Global End-to-End Brand Development | Expert in Blockbuster Brand Launches | President's Award Winner | Empowering Leader | Rare Diseases
1moCongratulations Mike Exton, PhD on your new role as CEO at Lexicon Pharmaceuticals! Your leadership and passion has undoubtedly prepared you for this exciting challenge. I'm confident that with your leadership and the incredibly talented team at Lexicon, you'll achieve remarkable success. Wishing you all the best as you embark on this new chapter. I can't wait to see the positive impact you'll make! #Lexicon #Leadership #Pharmaceuticals #Innovation