AB Dynamics PLC Pre-Close Trading Update & Notice of Results (2339O)
October 02 2019 - 2:00AM
UK Regulatory
TIDMABDP
RNS Number : 2339O
AB Dynamics PLC
02 October 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF
THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
2 October 2019
AB Dynamics plc
("AB Dynamics", the "Company" or the "Group")
Pre-Close Trading Update & Notice of Results
"Strong growth and delivery against strategic priorities"
AB Dynamics plc (AIM: ABDP), the designer, manufacturer and
supplier of advanced testing systems and measurement products to
the global automotive market, is pleased to provide a trading
update in advance of the publication of its final results for the
twelve months ended 31 August 2019.
The Group continued to perform strongly in the second half and
expects to report growth in revenue and adjusted profit before
tax(1) for the financial year ended 31 August 2019 that exceeds
market expectations.
The performance benefited from the continuation of the trends
reported at the half year in addition to the implementation of our
five-element strategy. Market conditions remain favourable, driven
by significant structural and regulatory tailwinds.
The Company is also pleased to confirm that the new Chief
Financial Officer, Sarah Matthews-DeMers, will commence her role on
Monday 4 November 2019.
Dr James Routh, Chief Executive Officer said:
"I am very pleased to report that the full year results for AB
Dynamics will be ahead of market expectations and the strategy
communicated at our interim results is progressing as planned.
Following the placing in May 2019, we have successfully completed
the acquisitions of rFpro and Dynamic Research Inc, as well as
launched new products and further expanded our international
presence in the USA and Japan. We have an unmatched market position
with exceptional technology and products, and the outlook remains
positive across the Group."
Notice of Results
AB Dynamics will announce its final results for the twelve
months ended 31 August 2019 on Wednesday 27 November 2019. The
management team will be hosting a presentation for analysts on the
day of the results. Analysts who wish to attend the presentation
should register their interest with Tulchan Communications at
abdynamics@tulchangroup.com or 0207 353 4200.
The person responsible for arranging the release of this
information is Dr James Routh, Chief Executive Officer of the
Company.
Note 1 - Adjusted profit before tax is defined as profit before
taxation, amortisation of acquired intangible assets,
acquisition-related and reorganisation expenditure, and share based
payment expenses. A comparison of unadjusted profit before tax with
market expectation has not been provided as market expectations do
not include the non-core costs relating to the recent acquisitions,
reorganisation of our routes to market and share based payment
costs incurred due to share options awarded during the year.
Enquiries:
AB Dynamics plc 01225 860 200
Tony Best, Non-Executive Chairman
Dr James Routh, Chief Executive Officer
Mat Hubbard, Chief Technology Officer
Cairn Financial Advisers (Nomad) 0207 213 0880
Tony Rawlinson
Liam Murray
Ludovico Lazzaretti
Cantor Fitzgerald Europe (Broker) 0207 894 7000
Phil Davies, David Foreman (Corporate Finance)
Caspar Shand Kydd, Keith Dowsing, Arthur Gordon
(Equity Sales)
Tulchan Communications 0207 353 4200
James Macey White
Matt Low
Deborah Roney
About AB Dynamics plc
AB Dynamics is a leading designer, manufacturer and provider of
advanced products for testing and verification of Advanced Driver
Assistance Systems ("ADAS") technology, autonomous vehicle
development and vehicle dynamics to the global automotive research
and development sector.
AB Dynamics is an international group of companies headquartered
in Bradford-on-Avon. AB Dynamics currently supplies all the top
automotive manufacturers, Tier 1 suppliers and service providers,
who routinely use the Group's products to test and verify vehicle
safety systems and dynamics
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Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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