News - Midlands

New customers boost Avingtrans

Avingtrans has improved revenue by 20 per cent, boosted by a number of "important new customers".

The Nottingham-based manufacturing components supplier posted revenue of £20.2m for the six months to 30 November 2011, up from £16.9m a year earlier.

It also recorded EBITDA of £1.8m, 26 per cent higher, while its pre-tax profit of £846,000 was also up from £510,000.

Roger McDowell, chairman, said: "Steadily building on the improving position of last year, we continued to see the majority of our markets being reasonably resilient.

"This is particularly pleasing given the volatile economic backdrop we have been working against. We have built on the existing customer base and signed up important new customers - e.g. Goodrich - from whom we foresee substantial new business emerging.

"Therefore, our consistent strategic direction is producing the expected returns and we expect this to continue for the rest of the year."

He added that the company has committed to a larger dividend at the year end, and said he hopes the company's "loyal band of steadfast investors will cheer this steady progress".

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