Avingtrans PLC (AIM:AVG) reported steady progress in the year to May 31st, 2022, with revenue up by 1.9% to £100.4mln and adjusted pre-tax profits from continuing operations increasing to £8.2mln from £7.7mln.
There were varying fortunes by division with 5.7% revenue growth in the energy business to £97.9mln compared to a sharp fall in revenues in the medical business to £2.5mln from £5.8mln.
Gross margins improved by 360 basis points to 34.0% from 30.4% and a final dividend of 2.6p per share made the total pay-out for the year 4.2p.
The group said trading since the year end had generally been as expected and the board remains cautiously confident about the current strategic direction and potential future opportunities across its markets.
Roger McDowell, chairman, said: “The commotions may continue, but we remain agile and steady on our feet.”