24th Mar 2016 08:56
LONDON (Alliance News) - AB Dynamics PLC on Thursday said it expects revenue and profit for the first half to be significantly higher year-on-year and said it has signed an agreement with Williams Advanced Engineering.
AB, which makes testing systems and measurement products for the automotive industry, said operating profit for the six months to the end of February should meet or marginally beat market expectations, while revenue should be significantly ahead.
AB has seen excellent sales in the US, Europe and China, it said, and a focus on advanced safety systems in new cars has driven strong sales for its track and lab testing products.
In addition, AB has signed a strategic agreement with Williams, the company behind the eponymous F1 racing team, covering the development of vehicle dynamic simulators.
No financial details were disclosed.
AB will publish its interim results on April 26.
AB shares were up 7.9% to 395.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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