Information  X 
Enter a valid email address

AB Dynamics PLC (ABDP)

  Print      Mail a friend

Wednesday 19 February, 2014

AB Dynamics PLC

Pre-Close Trading Update

RNS Number : 3762A
AB Dynamics PLC
19 February 2014
 



 

19 February 2014

 

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

Pre-Close Trading Update

 

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 2014.

 

Trading is in line with market expectations and the Group has seen an excellent performance in its "Track Testing Systems" offering, which has benefitted from the recent investments made in staff and product development.  We have also seen significant revenue growth from existing clients as well as a number of new client wins. Overseas growth has continued and the Group has located an engineer in Japan to support its customers in the region.

 

As highlighted at the time of our final results in November, we hope to recommend the payment of a dividend in the year ending 31 August 2014.

 

As announced on 13 February, Wiltshire Council's Strategic Planning Committee has formally resolved to grant planning permission for a mixed use development on land south west of Kingston Farm, Bradford on Avon to include the Group's proposed new purpose built factory. Formal planning permission is subject to completion of negotiations on an agreement under Section 106 of the Town and Country Planning Act 1990 between Wiltshire Council and developer of the site.

 

The Group's new facility, which is now scheduled to open in early 2016, will enable ABD to satisfy its growing order book. ABD has maintained a strong balance sheet with no net debt and good cash generation which positions it well to develop the new facility as well as take advantage of other corporate opportunities that may present themselves.

 

Tim Rogers, Managing Director of AB Dynamics, commented:

 

"The Group has performed well in the first half of the year with growth in product offering, customers and revenues. A strong order book gives the Board confidence in a successful outcome for the year as a whole."

 

 

Notice of Results

 

ABD expects to announce interim results for the 6 month period ended 28 February 2014 in the week commencing Monday 28 April 2014.

 

 

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 Threadneedle (PR)

Josh Royston

Heather Armstrong

Caroline Evans-Jones

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 50 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.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTEAXAPFADLEFF

a d v e r t i s e m e n t