AB Dynamics expects revenues and profits to 'significantly exceed' market expectations

AB Dynamics told investors on Thursday that it had performed well through its last trading year, with the board now expecting both revenues and pre-tax profits to "significantly exceed" market expectations.

The AIM-listed outfit, which designs, manufactures and supplies advanced testing systems and measurement products to the global automotive industry, will announce its fully audited results for the twelve months ended 31 August on 14 November.

Chairman Tony Best, said: "I am very pleased to report that the group has continued to perform well throughout the year with significant growth in turnover primarily resulting from increased sales of our track testing products which are used in the development and testing of semi-autonomous and fully autonomous vehicle technology."

Earlier in the week, AB Dynamics appointed former Chemring and Diploma executive Dr James Routh to replace long-time chief executive officer Tim Rogers.

As of 0930 BST, AB shares had shot up 11.50% to 1,430p.