Trading Update and Notice of Results

RNS Number : 9520H

AB Dynamics PLC

20 March 2015

 



20 March 2015

AB Dynamics plc
("ABD" or the "Group" )

Trading Update and Notice of Results

AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, is pleased to announce a trading update in advance of its interim results for the six months ended 28 February 2015.

Trading is expected to be in line with market forecast with the Group continuing to grow revenues, generate cash and maintain a strong balance sheet with no net debt.

As announced on 12 February, ABD has been awarded a grant of up to £2.3m from the UK Government's Regional Growth Fund. Along with the Company's existing funds, the grant will facilitate the Group's expansion to meet increasing global demand. As already announced planning is well advanced for the construction of a new special purpose building to enable the Group's design, development and manufacturing functions to be brought together in a single location. The Group also plans to use the funds to expand its workforce of highly skilled engineers and technicians and to enter a new phase of R&D expanding on current skills to address new markets.  

Tim Rogers, Managing Director of AB Dynamics, commented:

"The Group has performed well in the first half of the year, with continued growth in revenues  and a  strong forward order book the Company expects a successful outcome for the year as a whole. This year we expect to start construction of our long awaited new facility nearby, with target completion for the end of 2016"

Notice of Results

ABD will be announcing its Interim Results for the six months ended 28 February 2015 on Tuesday, 28 April 2015.  

The management of ABD will be hosting a presentation for analysts on the day of results at 9:30am at the offices of Newgate, Sky Light City Tower, 50 Basinghall Street, London, EC2V 5DE. Analysts who wish to attend the presentation should register their interest with Andre Hamlyn, contactable at [e-mail] or 020 7653 9857.

For further information please contact:

AB Dynamics plc Tim Rogers, Managing Director Tony Best, Chairman	01225 860 200
Cairn Financial Advisers LLP (Nomad) Tony Rawlinson Avi Robinson	0207 148 7900
Charles Stanley Securities Limited (Broker) Dugald J. Carlean Karri Vuori	0207 149 6000
Newgate (PR) Tim Thompson Adam Lloyd Andre Hamlyn Helena Bogle	0207 653 9850

Overview of AB Dynamics plc

ABD is a leading designer, manufacturer and provider of advanced testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector. The Group was founded in 1982 and listed on AIM in May 2013. The Group is headquartered in Bradford on Avon employing approximately 60 staff. ABD currently supplies all of the top twenty automotive manufacturers, including Honda, Toyota, Ford and Volkswagen, who routinely use the Group's products to test vehicle safety and dynamics.

 

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