REG - AB Dynamics PLC - Trading Update and Notice of Results

Ab DynamicsAnnouncement

21/03/2023 07:00

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RNS Number : 5838T  AB Dynamics PLC  21 March 2023

21 March 2023

AB Dynamics plc

Half year trading update and notice of results

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
for the six month period ended 28 February 2023.

 

Current trading and outlook

 

Trading for the first six months of the year was encouraging, with overall
performance in line with the Board's expectation. 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.

 

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, with its expectations for FY 2023
performance remaining unchanged.

 

Financial position

 

The balance sheet remains robust with net cash at 28 February 2023 of £21.3m
(28 February 2022: £27.7m, 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. The management team will be hosting a presentation for
analysts on the day of the results. Anyone wishing to attend the presentation
should register their interest with Teneo at abdynamics@teneo.com or 0207 353
4200.  A presentation will also be provided on the Investor Meet Company
platform on 26 April 2023 at 9am. Anyone wishing to attend should register
their interest via
https://www.investormeetcompany.com/ab-dynamics-plc/register-investor
(https://www.investormeetcompany.com/ab-dynamics-plc/register-investor) .

 

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

 Teneo                                                                                                            0207 353 4200
 James Macey White
 Matt Low

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

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