AB Dynamics PLC Pre Close Trading Update (4755S)

TIDMABDP

RNS Number : 4755S

AB Dynamics PLC

03 October 2017

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

3 October 2017

AB Dynamics plc

("AB Dynamics" or the "Group")

Pre Close Trading Update

AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, is pleased to provide a trading update in advance of the publication of its final results for the twelve months ended 31 August 2017.

The Group has performed well in 2017 and the Board expects revenue and profit before tax (excluding share option charges and latest IFRS 15 adjustments) to be slightly ahead of analysts' forecasts. The Board has chosen early adoption of IFRS 15, from 1 March 2017, and this is expected to lead to a reduction in the level of reported revenue for the year to 31 August 2017, but with no consequential impact on profit before tax. Despite the adoption of IFRS 15, it is anticipated that reported revenue will nevertheless remain in-line with current market expectations.

Tim Rogers, Chief Executive Officer of AB Dynamics, commented: "The Group has continued to perform well in the period with significant year on year growth in both underlying revenues and profits before tax. We have now commenced the move to our new state of the art factory and offices and I am pleased to be able to report that the current order book is the largest in the Group's history."

Notice of Results

AB Dynamics will be announcing its Final Results for the twelve months ended 31 August 2017 on Wednesday 15 November 2017. The management of AB Dynamics will be hosting a presentation for analysts on the day of the results at 9:30am at Guildhall House, 85 Gresham Street, London, EC2V 7NQ. Analysts who wish to attend the presentation should register their interest with Heather Armstrong, contactable at [e-mail] or on 0203 053 8671.

For further information please contact:

 
AB Dynamics plc                      01225 860 200 
Tim Rogers, Chief Executive 
 Officer 
 Rob Hart, Chief Financial Officer 
Cairn Financial Advisers LLP 
 (Nomad)                             0207 213 0880 
Tony Rawlinson 
 Liam Murray 
Cantor Fitzgerald Europe (Broker)    020 7894 7000 
David Foreman 
 Phil Davies 
IFC Advisory Ltd (PR)                0203 053 8671 
Tim Metcalfe 
 Heather Armstrong 
 Graham Herring 
 

Overview of AB Dynamics plc

AB Dynamics 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 is headquartered in Bradford on Avon employing approximately 115 staff. AB Dynamics 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 03, 2017 02:00 ET (06:00 GMT)