AB Dynamics PLC on Tuesday said it is performing in line with expectations during the first half of its financial year, as it looks ahead with confidence.
AB Dynamics is a Bradford-on-Avon, Wiltshire-based testing systems and measurement products for the automotive market. Its shares were up 3.1% to 1,670.00 pence each in London on Tuesday around midday.
The company said that trading in the six months ended February 28 was ‘encouraging’, with overall performance in line with the company’s expectations.
AB Dynamics added that it has a ‘solid’ order book, providing good visibility into the second half of the year. Further, it said the integration of Ansible Motion Ltd is progressing as planned.
The company acquired Ansible Motion in September for an initial consideration of £19.2 million. Maximum consideration payable is £31.2 million.
Looking ahead, AB Dynamics said it is mindful of ongoing supply chain disruption and wider economic uncertainty, but remains confident that it will make further financial and strategic progress this year. It left its expectations for financial 2023 unchanged.
‘The group has seen continued good momentum across both of its Track testing and Laboratory testing and simulation divisions, benefitting from strengthened operational and commercial infrastructure within the business. Further progress has also been made in developing the ABD Solutions offering,’ it explained.
AB Dynamics will report its interim results for the six months ended February 28 on April 25.
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