Facilities by ADF PLC on Tuesday said it expects full-year results to be in line with current market expectations, thanks to high levels of fleet utilisation in the year.

Shares were up 7.8% at 58.75 pence each on Tuesday around midday in London.

For 2022, the provider of production and support vehicles for the TV and film industry said it expects revenue to reach £31.4 million, up from £27.7 million a year ago.

Adjusted earnings before interest, tax, depreciation and amortisation is expected to be £7.9 million, up from £7.7 million. This reflected the ‘continued positive momentum across the business,’ the company said.

From 76 productions in the year - up from 39 in 2021 - the company generated an average revenue value of £390,000 per production, down from £682,000 per production the year prior.

Facilities by ADF said the 2023 order book suggests a continuation of the positive trends seen in the second half of 2022, with larger productions with a higher revenue per job.

Looking ahead, the company said it is currently taking orders for the fourth quarter this year, and looking ahead, the order book remains strong with ‘increasing revenue visibility’.

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