AB Dynamics upbeat on positive first half
By Josh White
Date: Tuesday 21 Mar 2023
(Sharecast News) - Transport testing, simulation and measurement specialist AB Dynamics reported a positive first half in a trading update on Tuesday, with overall performance in line with board expectations.
The AIM-traded company said its track testing and laboratory testing and simulation divisions experienced strong momentum, driven by an improved operational and commercial infrastructure.
Additionally, AB Dynamics said it made further advancements in developing its ABD Solutions offering.
AB Dynamics said it had a robust order book, ensuring good visibility into the second half of the year.
The integration of the recently-acquired Ansible Motion was proceeding according to plan, the board added.
Despite concerns about ongoing supply chain disruptions and broader economic uncertainty, the board said it remained confident in the group's ability to achieve further financial and strategic progress in 2023, with expectations for the full-year performance remaining unchanged.
"The balance sheet remains robust, with net cash at 28 February of £21.3m, after payment of the initial £16m cash consideration for the acquisition of Ansible Motion in September," the board said in its statement.
AB Dynamics said it would report its interim results for the six months ended 28 February on 25 April.
At 1400 GMT, shares in AB Dynamics were up 1.85% at 1,650p.
Reporting by Josh White for Sharecast.com.
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