Pre-Close Trading Update & Notice of Results

RNS Number : 2339O

AB Dynamics PLC

02 October 2019

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

2 October 2019

AB Dynamics plc

("AB Dynamics", the "Company" or the "Group")

Pre-Close Trading Update & Notice of Results

"Strong growth and delivery against strategic priorities"

AB Dynamics plc (AIM: ABDP), 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 the publication of its final results for the twelve months ended 31 August 2019.

The Group continued to perform strongly in the second half and expects to report growth in revenue and adjusted profit before tax¹ for the financial year ended 31 August 2019 that exceeds market expectations.

The performance benefited from the continuation of the trends reported at the half year in addition to the implementation of our five-element strategy. Market conditions remain favourable, driven by significant structural and regulatory tailwinds.

The Company is also pleased to confirm that the new Chief Financial Officer, Sarah Matthews-DeMers, will commence her role on Monday 4 November 2019.

Dr James Routh, Chief Executive Officer said:

"I am very pleased to report that the full year results for AB Dynamics will be ahead of market expectations and the strategy communicated at our interim results is progressing as planned.  Following the placing in May 2019, we have successfully completed the acquisitions of rFpro and Dynamic Research Inc, as well as launched new products and further expanded our international presence in the USA and Japan. We have an unmatched market position with exceptional technology and products, and the outlook remains positive across the Group."

Notice of Results

AB Dynamics will announce its final results for the twelve months ended 31 August 2019 on Wednesday 27 November 2019.  The management team will be hosting a presentation for analysts on the day of the results.  Analysts who wish to attend the presentation should register their interest with Tulchan Communications at [e-mail] or 0207 353 4200.

The person responsible for arranging the release of this information is Dr James Routh, Chief Executive Officer of the Company.

Note 1 - Adjusted profit before tax is defined as profit before taxation, amortisation of acquired intangible assets, acquisition-related and reorganisation expenditure, and share based payment expenses. A comparison of unadjusted profit before tax with market expectation has not been provided as market expectations do not include the non-core costs relating to the recent acquisitions, reorganisation of our routes to market and share based payment costs incurred due to share options awarded during the year.

Enquiries:

AB Dynamics plc	01225 860 200
Tony Best, Non-Executive Chairman
Dr James Routh, Chief Executive Officer
Mat Hubbard, Chief Technology Officer
Cairn Financial Advisers (Nomad)	0207 213 0880
Tony Rawlinson Liam Murray Ludovico Lazzaretti
Cantor Fitzgerald Europe (Broker)	0207 894 7000
Phil Davies, David Foreman (Corporate Finance) Caspar Shand Kydd, Keith Dowsing, Arthur Gordon (Equity Sales)
Tulchan Communications	0207 353 4200
James Macey White
Matt Low
Deborah Roney

About AB Dynamics plc

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

AB Dynamics is an international group of companies headquartered in Bradford-on-Avon.  AB Dynamics currently supplies all the top automotive manufacturers, Tier 1 suppliers and service providers, who routinely use the Group's products to test and verify vehicle safety systems and dynamics

 

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