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Avingtrans
- BY: Andrew Hore |
- POSTED: 21/02/2011 |
- COMMENTS: Add yours
A subsidiary of Avingtrans has gained a £5m aerospace contract extension.
This three-year extension to a contract that started in 2006 helps to underpin house broker FinnCap’s forecast of an improvement in pre-tax profit from £600,000 to £1.5m in the year to May 2011 and a further rise to £2.2m the following year. The 2010-11 profit forecast was increased from £1.1m in January.
Avingtrans is providing finishing and polishing services for components made by the customer.
This contract follows recent interim figures. Revenues increased by 25% to £16.9m in the six months to November 2010. Avingtrans returned to profit in the period.
At 60p a share, Avingtrans is valued at £15.3m. The shares are trading on less than 15 times 2010-11 prospective earnings, falling to 10 in 2011-12.
Download the February edition of AIM Journal at http://www.hubinvest.com/AIMPDFFebruary2011_17.pdf
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