AB Dynamics PLC AGM Statement (4631L)

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RNS Number : 4631L

AB Dynamics PLC

13 January 2021

13 January 2021

AB Dynamics plc

("AB Dynamics", the "Company" or the "Group")

AGM Trading Update

AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive market, issues the following trading update, to coincide with the Company's Annual General Meeting taking place later today.

Current trading and outlook

The Board is pleased to report that conditions through the end of 2020 remained consistent with expectations as at the time of the Group's full year results on 25 November 2020, with demand in the first four months of the current year in line with the Q4 FY20 exit rate. The Group continues to make good progress in the execution of its strategy.

Whilst the Group continues to monitor the evolving COVID-19 situation and the current disruption associated with further waves of infection in various operational and end market territories, the underlying market drivers continue to be compelling. The Board remains confident that the medium-term outlook is positive and that the Group can continue to deliver on its strategic priorities.

Financial position

The balance sheet remains strong with cash at 31 December 2020 of GBP33.9m (31 December 2019: GBP36.4m, 31 August 2020 GBP31.2m) , underpinning the Group's investment plans.

Interim results date

The Group will report its interim results for the six months ended 28 February 2021 on 28 April 2021.

Enquiries:

 
 AB Dynamics plc                            01225 860 200 
 Dr James Routh, Chief Executive 
  Officer 
  Sarah Matthews-DeMers, Chief Financial 
  Officer 
 
 Peel Hunt LLP                              0207 418 8900 
 Mike Bell 
  Ed Allsopp 
 
 Tulchan Communications                     0207 353 4200 
 James Macey White 
  Matt Low 
  Laura Marshall 
 

The person responsible for arranging the release of this information is Felicity Jackson, Company Secretary.

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January 13, 2021 02:00 ET (07:00 GMT)