StockMarketWire.com - Avingtrans, an energy, medical and industrial components supplier, reinstated guidance for 2021 and 2022 and said it expected to resume dividend payments next year.

For the twelve months ended 31 May 2020, pre-tax profit fell to £30 million from £31 million year-on-year as revenue increased by 9.5% to £113.9 million.

The company flagged Covid-19 issues experience during the year including temporary factory closures, delayed orders and supplier parts delays.

Gross margin improved to 27.8% from 26.6%.

The company said its dividend remained suspended due to Covid-19, but it intended to re-instate payments in 2021.

'Given the strength of the order book, we are reinstating guidance,' the company said. Story provided by StockMarketWire.com