Avingtrans Q1 orders in line with expectations

Energy and medical equipment supplier Avingtrans said on Tuesday that first-quarter order intake had been in line with expectations as trading appeared to "generally" normalise.

Avingtrans said it had secured a $2.8m South Korean nuclear sector contract throughout the period, which will see the firm's Hayward Tyler subsidiary provide critical nuclear safety-related spare parts to reactors for essential service water pumps. The works were expected to be delivered in the 2021 trading year.

The AIM-listed group also locked in a $1.5m deal for replacement valves with a nuclear plant operator in the UK.

"Recent trading demonstrates the group's on-going ability to win important new work both in the UK and globally," said Avingtrans.

"Both contracts underpin the group's international reputation for engineering excellence in the nuclear industry."

As of 0900 BST, Avingtrans shares were up 1.80% at 232.11p.