REG - AB Dynamics PLC - AGM Statement

Ab DynamicsAnnouncement

11/01/2023 07:00

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RNS Number : 2958M  AB Dynamics PLC  11 January 2023

11 January 2023

AB Dynamics plc

AGM trading update

AB Dynamics plc ("AB Dynamics", the "Company" or the "Group"), the designer,
manufacturer and supplier of advanced testing, simulation and measurement
products to the global transport market, issues the following trading update,
to coincide with the Company's Annual General Meeting taking place later
today.

 

Current trading and outlook

 

Further to the outlook commentary provided in the Group's FY 2022 results,
published on 23 November 2022, the Board is pleased to report that Group
trading continues to show encouraging momentum, and that performance over the
first four months of FY 2023 has been in line with its expectations.

 

The Group has a solid order book, providing good visibility into the second
half of the year, and the integration of Ansible Motion is progressing as
planned. Whilst mindful of ongoing supply chain disruption and wider economic
uncertainty, the Board remains confident that the Group will make further
financial and strategic progress this year, and its expectations for FY 2023
are unchanged.

 

Financial position

 

The balance sheet remains strong with net cash at 31 December 2022 of £17.6m
(31 December 2021: £27.4m, 31 August 2022: £29.2m), after payment of the
initial £16.0m cash consideration for the acquisition of Ansible Motion in
September 2022.

 

Notice of results

 

The Group will report its interim results for the six months ended 28 February
2023 on 25 April 2023.

 

Enquiries:

 AB Dynamics plc                                                                                                            01225 860 200
 Dr James Routh, Chief Executive Officer
 Sarah Matthews-DeMers, Chief Financial Officer

 Peel Hunt LLP                                                                                                              0207 418 8900
 Mike Bell

 Ed Allsopp

 Tulchan                                                                                                                    0207 353 4200
 Communications
 James Macey White
 Matt Low

 

The person responsible for arranging the release of this information is David
Forbes, Company Secretary.

 

 

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