12th Nov 2015 09:43
LONDON (Alliance News) - AB Dynamics PLC on Thursday said its pretax profit rose in the year to the end of August thanks to higher revenue and said it is confident of its outlook following a robust year.
The company, which designs, manufactures and supplies testing systems and measurement products to automotive sector customers, said its pretax profit for the year to August 31 rose to GBP3.8 million from GBP2.7 million a year earlier.
Revenue increased to GBP16.5 million from GBP13.8 million, driven by strong sales of its track testing products globally. AB Dynamics also secured new manufacturing space over the year, and its new factory is on track to be completed in 2017.
The company will pay a final dividend of 1.65 pence per share, taking its total dividend for the year to 2.75p, a 10% year-on-year rise.
AB Dynamics said its current order book takes it into the third quarter of the current year, and it remains confident it will be able to deliver capacity to fulfil these orders and secure more as the year progresses.
"We have had another excellent year, with demand for our products and services increasing in line with higher R&D spending by the global automotive testing sector," said Managing Director Tim Rogers. "With a promising pipeline of orders, the expanded team and the new infrastructure that we have in place, we look forward to the future with confidence."
Shares in AB Dynamics were up 6.9% to 302.00p on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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