30th Sep 2014 16:17
AB Dynamics plc("ABD" or the "Group")
Trading Update
AB Dynamics plc (AIM:ABDP), a designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, announces a trading update for the year ended 31 August 2014.
On 10 September 2014 the Board announced that results for the year ended 31 August 2014 were likely to be in line with market forecast. The board confirms that sales remain broadly in line with forecast but the profitability on a number of large contracts shipped in August exceeded the estimates we made at that time. Following the normal month end accounting process, it has been shown that the subsequent costs of completion are lower than previously estimated. Accordingly, the board is now pleased to report that profits for the year as a whole are likely to exceed market forecast.
For further information please contact:
AB Dynamics plc Tim Rogers, Managing Director Tony Best, Chairman
| 01225 860 200 |
Cairn Financial Advisers LLP (Nomad) Tony Rawlinson Avi Robinson
| 0207 148 7900 |
Charles Stanley Securities Limited (Broker) Dugald J. Carlean Karri Vuori
| 0207 149 6000 |
Newgate Threadneedle (PR) Josh Royston Heather Armstrong Caroline Evans-Jones | 0207 653 9850 |
Overview of AB Dynamics plc
ABD is a leading designer, manufacturer and provider of advanced testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector. The Group was founded in 1982 and listed on AIM in May 2013. The Group is headquartered in Bradford on Avon employing approximately 60 staff. ABD currently supplies all of the top twenty automotive manufacturers, including Honda, Toyota, Ford and Volkswagen, who routinely use the Group's products to test vehicle safety and dynamics.
Related Shares:
AB Dynamics