AB Dynamics pleased with first-half progress

Testing and measurement product supplier AB Dynamics reported good strategic progress in a trading update on Wednesday, with first-half performance in line with the board's expectations.

The AIM-traded firm said that, while the current operating environment was challenging in terms of supply chain disruption, operational output had not been adversely affected to .

It said it had successfully mitigated 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,” the board said in its statement.

“Whilst mindful of ongoing geopolitical uncertainty, the board's expectations for the year are unchanged.”

AB Dynamics said “robust” operating cash generation was funding investment, with the resulting positive free cash flow leaving net cash at the end of the first half on 28 February up £5.4m to £27.7m.

That, the board said, left the group in a “strong position” from which to drive further strategic progress.

AB Dynamics said it would report its interim results for the six months ended 28 February on 27 April.

At 1316 GMT, shares in AB Dynamics were up 0.65% at 1,087p.