LONDON (ShareCast) - AB Dynamics, which manufactures vehicle testing products, said it has seen 'significant' revenue growth from existing and new clients in the half year ending February 28th.

The group’s trading has been in line with expectations with strong performance from its Track Testing Systems, a driverless testing tool for vehicles, following recent investments in staff and product development.

International growth continued and the group has found an engineer in Japan to support customers in the region.

"The group has performed well in the first half of the year with growth in product offering, customers and revenues," said Managing Director Tim Rogers in the trading update published on Wednesday.

"A strong order book gives the board confidence in a successful outcome for the year as a whole."

As stated in the 2013 full-year results in November, the company said it hopes to recommend a dividend payment for the year ending August 31st 2014.

AB’s planned new purpose built factory on Kingston Farm, Bradford on Avon, is expected to boost the order book. The company has received grant planning permission from the Wiltshire Council's Strategic Planning Committee.

Formal planning permission is subject to completion of an agreement between Wiltshire Council and the developer of the site. The plant is scheduled to open in early 2016.

“ABD has maintained a strong balance sheet with no net debt and good cash generation which positions it well to develop the new facility as well as take advantage of other corporate opportunities that may present themselves,” the firm added.

Shares rose 5.43% to 165p by 14:05.

RD

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE