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RNS Number : 4755S
AB Dynamics PLC
03 October 2017
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").  Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

 

3 October 2017

 

AB Dynamics plc
("AB Dynamics" 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 provide a trading update in advance of the publication of its final results for the twelve months ended 31 August 2017.

The Group has performed well in 2017 and the Board expects revenue and profit before tax (excluding share option charges and latest IFRS 15 adjustments) to be slightly ahead of analysts' forecasts. The Board has chosen early adoption of IFRS 15, from 1 March 2017, and this is expected to lead to a reduction in the level of reported revenue for the year to 31 August 2017, but with no consequential impact on profit before tax. Despite the adoption of IFRS 15, it is anticipated that reported revenue will nevertheless remain in-line with current market expectations. 

Tim Rogers, Chief Executive Officer of AB Dynamics, commented: "The Group has continued to perform well in the period with significant year on year growth in both underlying revenues and profits before tax. We have now commenced the move to our new state of the art factory and offices and I am pleased to be able to report that the current order book is the largest in the Group's history."

Notice of Results

AB Dynamics will be announcing its Final Results for the twelve months ended 31 August 2017 on Wednesday 15 November 2017. The management of AB Dynamics will be hosting a presentation for analysts on the day of the results at 9:30am at Guildhall House, 85 Gresham Street, London, EC2V 7NQ. Analysts who wish to attend the presentation should register their interest with Heather Armstrong, contactable at heather.armstrong@investor-focus.co.uk or on 0203 053 8671.

For further information please contact:

 

AB Dynamics plc

01225 860 200

Tim Rogers, Chief Executive Officer

Rob Hart, Chief Financial Officer

 

 

Cairn Financial Advisers LLP (Nomad)

0207 213 0880

Tony Rawlinson

Liam Murray

 

 

Cantor Fitzgerald Europe (Broker)

020 7894 7000

David Foreman

Phil Davies

 

 

IFC Advisory Ltd (PR)

0203 053 8671

Tim Metcalfe

Heather Armstrong

Graham Herring

 

 

Overview of AB Dynamics plc

AB Dynamics 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 is headquartered in Bradford on Avon employing approximately 115 staff. AB Dynamics 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
 
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