Like many of my holdings I initially took only a small position and waited for the interim or full year accounts before increasing or closing. I do not like to have a position below 1% of my portfolio and Avingtrans was cira 0.7%. As a general rule once the results are out I have to either increase the position to over 1% or move on. It is not inviolate as if there has been significant activity since the period covered by results I may defer a decision.
I was underwhelmed by the AVG report as whilst there was much done well there was also a lot of items missed. I also reading between the lines felt there were a number of items mentioned that could be possible issues. I felt management where uncertain of the situation and where covering themselves so they could say later that they had mentioned the issue.
I do not thing Avingtrans is a bad company, but in the current market my criteria is higher than that.