27th Mar 2019 09:30
LONDON (Alliance News) - Testing systems and measuring tool firm AB Dynamics PLC on Wednesday guided for both revenue and profit to be "significantly" ahead year-on-year.
The guidance covers its first half, the six months ended February. The adjusted operating guidance also excludes share option charges.
In half year ended February 2018, AB Dynamics posted revenue of GBP15.3 million and adjusted operating profit before share options of GBP3.3 million.
AB Dynamics commented: "This performance has been driven both by growing market demand and the positive impact of planned operational improvements which has reduced delivery lead times for our customers.
"Based on this performance, we are confident results for the full year will be in line with both management and consensus market expectations."
AB Dynamics said demand for its track testing product is continuing to be positive, while there is also interest in its simulation systems.
AB Dynamics also has developed a new company strategy, which it said it will present at the time of the results for the period on April 24.
Chief Executive James Routh said: "I am pleased to report on this excellent period of trading for AB Dynamics. In the first half, both through demand and some operational improvements, we have delivered a strong performance.
"Going forward, the focus is on successfully implementing the strategy which builds on our strong foundations to create long-term sustainable growth."
Shares were 0.5% higher on Wednesday at a price of 1,678.00 pence each.
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