AB Dynamics PLC Trading Update & Notice of Interim Results (0363U)
27 March 2019 - 6:00PM
UK Regulatory
TIDMABDP
RNS Number : 0363U
AB Dynamics PLC
27 March 2019
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
27 March 2019
AB Dynamics plc
("AB Dynamics" or "ABD" or the "Group")
Trading Update & Notice of Interim Results
AB Dynamics plc (AIM: ABDP, "ABD", "the Group") the designer,
manufacturer and supplier of advanced testing systems and
measurement products to the global automotive market, is pleased to
provide a trading update in advance of announcing its Interim
Results for the six months ended 28 February 2019.
Trading
Revenues and adjusted operating profits (excluding share option
charges) for the six months to 28 February 2019 are expected to be
significantly ahead of the same period last year. This performance
has been driven both by growing market demand and the positive
impact of planned operational improvements which has reduced
delivery lead times for our customers. Based on this performance,
we are confident that results for the full year will be in line
with both management and consensus market expectations.
The Group continues to benefit from positive demand for its
market leading track testing products and services which support
the ongoing development of Advanced Driver Assistance Systems and
autonomous vehicle development. In addition, we are seeing interest
in our simulation systems to aid the development of these
technologies.
Strategy
The Group has developed an updated strategy which will be
presented at the time of the results. This strategy sets the future
direction of the business and is focused on long term sustainable
growth. It builds on ABD's success to date, strong market position,
and deep, long-term customer relationships.
Dr James Routh, Chief Executive commented:
"I am pleased to report on this excellent period of trading for
AB Dynamics. Since joining the Group I have been impressed by the
calibre of our people, the quality of our technology and the
strength of our relationships with global automotive and mobility
providers.
A track record of product innovation and customer service means
we are trusted to help some of the leading companies in the world
safely develop and test their advanced driver assistance
technology. These relationships combined with a supportive
regulatory and market backdrop provide for a positive outlook for
the Group.
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."
Notice of Results
ABD will be announcing its Interim Results for the six months
ended 28 February 2019 on 24 April 2019. The management team will
be hosting a briefing for analysts on the day of results at 9:30am
at Tulchan Communications, 2nd Floor, 85 Fleet Street, London, EC4Y
1AE. Please contact abdynamics@tulchangroup.com if you would like
to attend.
Enquiries:
AB Dynamics plc 01225 860 200
Tony Best, Non-Executive Chairman
Dr James Routh, Chief Executive Officer
Mat Hubbard, Chief Operating Officer
Rob Hart, Chief Financial Officer
Cairn Financial Advisers (Nomad)
Tony Rawlinson
Liam Murray
Richard Nash 0207 213 0880
Cantor Fitzgerald Europe (Broker) 0207 894 7000
Phil Davies
David Foreman
Tulchan Communications 0207 353 4200
James Macey White
Matt Low
Deborah Roney
Overview of AB Dynamics plc
AB Dynamics is a leading designer, manufacturer and provider of
advanced products for testing of Advanced Driver Assistance Systems
("ADAS") technology, autonomous vehicle development and vehicle
dynamics to the global automotive research and development
sector.
The Group is headquartered in Bradford-on-Avon, UK, employing
approximately 170 staff. AB Dynamics currently supplies all the top
automotive manufacturers, Tier 1 suppliers and service providers,
who routinely use the Group's products to test vehicle safety and
dynamics.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCFMGZFGVNGLZM
(END) Dow Jones Newswires
March 27, 2019 03:00 ET (07:00 GMT)
Ab Dynamics (LSE:ABDP)
Historical Stock Chart
From Apr 2024 to May 2024
Ab Dynamics (LSE:ABDP)
Historical Stock Chart
From May 2023 to May 2024