Trading Update & Notice of Interim Results

RNS Number : 0363U

AB Dynamics PLC

27 March 2019

 

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.

27 March 2019

AB Dynamics plc

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

Trading Update & Notice of Interim Results

AB Dynamics plc (AIM: ABDP, "ABD", "the Group") the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive market, is pleased to provide a trading update in advance of announcing its Interim Results for the six months ended 28 February 2019.

Trading

Revenues and adjusted operating profits (excluding share option charges) for the six months to 28 February 2019 are expected to be significantly ahead of the same period last year.  This performance has been driven both by growing market demand and the positive impact of planned operational improvements which has reduced delivery lead times for our customers.   Based on this performance, we are confident that results for the full year will be in line with both management and consensus market expectations.

The Group continues to benefit from positive demand for its market leading track testing products and services which support the ongoing development of Advanced Driver Assistance Systems and autonomous vehicle development.  In addition, we are seeing interest in our simulation systems to aid the development of these technologies. 

Strategy

The Group has developed an updated strategy which will be presented at the time of the results. This strategy sets the future direction of the business and is focused on long term sustainable growth.  It builds on ABD's success to date, strong market position, and deep, long-term customer relationships.

Dr James Routh, Chief Executive commented:

"I am pleased to report on this excellent period of trading for AB Dynamics. Since joining the Group I have been impressed by the calibre of our people, the quality of our technology and the strength of our relationships with global automotive and mobility providers.

A track record of product innovation and customer service means we are trusted to help some of the leading companies in the world safely develop and test their advanced driver assistance technology. These relationships combined with a supportive regulatory and market backdrop provide for a positive outlook for the Group.

In the first half, both through demand and some operational improvements, we have delivered a strong performance.  Going forward, the focus is on successfully implementing the strategy which builds on our strong foundations to create long-term sustainable growth."

Notice of Results

ABD will be announcing its Interim Results for the six months ended 28 February 2019 on 24 April 2019.  The management team will be hosting a briefing for analysts on the day of results at 9:30am at Tulchan Communications, 2nd Floor, 85 Fleet Street, London, EC4Y 1AE. Please contact [e-mail] if you would like to attend.

Enquiries:

AB Dynamics plc	01225 860 200
Tony Best, Non-Executive Chairman
Dr James Routh, Chief Executive Officer
Mat Hubbard, Chief Operating Officer
Rob Hart, Chief Financial Officer
Cairn Financial Advisers (Nomad)	0207 213 0880
Tony Rawlinson Liam Murray Richard Nash
Cantor Fitzgerald Europe (Broker)	0207 894 7000
Phil Davies David Foreman
Tulchan Communications	0207 353 4200
James Macey White
Matt Low
Deborah Roney

Overview of AB Dynamics plc

AB Dynamics is a leading designer, manufacturer and provider of advanced products for testing of Advanced Driver Assistance Systems ("ADAS") technology, autonomous vehicle development and vehicle dynamics to the global automotive research and development sector. 

The Group is headquartered in Bradford-on-Avon, UK, employing approximately 170 staff.  AB Dynamics currently supplies all the top automotive manufacturers, Tier 1 suppliers and service providers, who routinely use the Group's products to test vehicle safety and dynamics.

 

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