AB Dynamics' revenue and profits 'significantly ahead' of 2018
Automotive industry manufacturer and supplier AB Dynamics saw revenues and operating profits move ahead in the first half of its trading year, leaving the group confident that its full-year results will be in line with both management and consensus market expectations.
AB Dynamics now expects revenues and adjusted operating profits for the six months ended 28 February to be "significantly ahead of the same period last year", driven both by growing market demand and the positive impact of planned operational improvements which reduced delivery lead times for the firm's customers.
The AIM-listed outfit also told investors on Wednesday that it continues to benefit from positive demand for its track testing products and services and an increased interest in its simulation systems.
Chief executive Dr James Routh said: "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."
As of 0850 GMT, AB shares were up 2.57% at 1,713p.