AB Dynamics trading in line with forecasts
AIM-listed AB Dynamics, a manufacturer of advanced testing systems and products for suspension, brakes and steering to the automotive industry, said it was trading in line with market expectations ahead of the publication of its full-year results.
The company said in a trading update it had performed “well” in the 12 months ended 31 August and it expects to report revenues and profit before tax, excluding a share option charge, in line with market forecasts.
Managing director Tim Rogers said the company had continued to perform well in the period with continued year-on-year growth in both revenues and profits.
He added that the construction of the new factory in Wiltshire, which is due to finish by the third quarter of 2017, will provide the company with extra capacity for future growth.
The Bradford-on-Avon based company employs about 80 staff and supplies all of the top 20 automotive manufacturers, including Honda, Toyota, Ford and Volkswagen.
Full-year results will be announced on 16 November.
Shares in AB Dynamics were down 1.57% to 470p at 1033 BST.