AB Dynamics plc (LON:ABDP), a designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, has today announced its Interim Results for the six month period to 28 February 2018.
Financial Highlights
· Revenues increased 39% to £15.3m (H1 2017: £11.0m)
· Profit before tax, excluding share option costs, increased 34% to £3.30m (H1 2017: £2.46m)
· Cash flow from operating activities increased by £4m to £5.3m (H1 2017: £1.3m)
· Basic EPS increased 86% to 12.35p (H1 2017: 6.65p), Diluted EPS increased 82% to 12.03p (H1 2017: 6.61p)
· Interim dividend increased 10% to 1.465p per ordinary share (H1 2017: 1.331p)
Operational Highlights
· Very strong demand for Guided Soft Targets
· Demand for Driving Robots also at an all-time high
· Good forward order book, providing visibility into FY2019
· Occupied new state of the art factory and offices at the beginning of the financial year
· Hopeful of receiving the first order for an Advanced Vehicle Dynamic Simulator
· Established AB Dynamics (Europe) GmbH, a new operating entity in Germany
Tony Best, Chairman of AB Dynamics Plc, commented: “We are pleased to report on an excellent start to the current financial year based on a strong commercial performance. We have built a good forward order book, both for the remainder of 2018 and into next year which gives us confidence in meeting market expectations.
The Group continues to invest in its people, products and facilities, and we now have 130 employees, an increase of 41% over the last year. We continue to evolve our structure to support a large and growing installed base of equipment and systems across the world, whilst also ensuring we carry on delivering the innovative new products and services that our customers expect. During the period, we established a new operating entity in Germany which will provide improved customer support and a local engineering resource.
The Board is pleased to announce the increased dividend to shareholders of 1.465p per ordinary share that is supported by the strength of our business and future prospects.”
