Trading Update and Notice of Results

RNS Number : 6758F

AB Dynamics PLC

23 March 2022

 

23 March 2022

AB Dynamics plc

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

Trading Update and Notice of Results

AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing, simulation and measurement products and services to the global transport market, issues the following trading update in advance of the publication of its interim results for the period ended 28 February 2022.

Business performance

The Board is pleased with the progress made against its strategy, with performance for the six months ended 28 February 2022 in line with the Board's expectations.

Whilst the current operating environment still presents challenges in relation to potential supply chain disruption, operational output has not been adversely affected to date and the Group has been successful in mitigating inflationary cost pressures through price increases for new orders.

Underlying demand conditions in our key markets and customer activity levels have resulted in a positive book to bill ratio being maintained throughout the first half. Whilst mindful of ongoing geopolitical uncertainty, the Board's expectations for the year are unchanged.  

Financial position

Robust operating cash generation continues to fund investment and the resulting positive free cash flow leaves net cash, as at 28 February 2022, up £5.4m to £27.7m (28 February 2021: £33.1m, 31 August 2021 £22.3m), which leaves the Group in a strong position from which to drive further strategic progress.

Interim results date

The Group will report its interim results for the six months ended 28 February 2022 on 27 April 2022. The management team will be hosting a presentation for analysts on the day of the results. Anyone wishing to attend the presentation should register their interest with Tulchan Communications at [e-mail] or 0207 353 4200.

Enquiries:

AB Dynamics plc	01225 860 200
Dr James Routh, Chief Executive Officer Sarah Matthews-DeMers, Chief Financial Officer
Peel Hunt LLP	0207 418 8900
Mike Bell Ed Allsopp
Tulchan Communications	0207 353 4200
James Macey White Matt Low Laura Marshall

The person responsible for arranging the release of this information is David Forbes, Company Secretary.

 

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