Coronavirus impact: 7 July - another unlikely stock market animal
A small cap corporate broker seems ill-suited to public markets, although it continues to do a great job for its clients
Avingtrans: shares get a liftAvingtrans (LON: AVG), the international engineering group supporting the energy, nuclear, defence and medical sectors, cheered up its shareholders with an encouraging trading update for its financial year ending 31 May 2020. Despite the widespread disruption caused by the pandemic, results weren’t too far off original expectations, with revenue up 8.5% to £114m and adjusted EBITDA expected to be at least £11.5m compared to the prior year’s £9.4m. Net debt was a relatively modest £7.5m with plenty of headroom on their banking facilities. Given the on-going uncertainly around the impact of the pandemic management is not…