AB Dynamics Share News (ABDP)

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1,078.00 20.00 (1.89%)

Bid:

1,080.00

Ask:

1,088.00

Spread: 8.00 (0.741%)

Market Cap: £246.76m

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AB Dynamics performs in line with expectations; positive outlook

Wed, 11th Jan 2023 10:44

(Alliance News) - AB Dynamics PLC on Wednesday said it is performing in line with expectations, as it looks ahead with confidence.

AB Dynamics is a Bradford-on-Avon, Wiltshire-based testing systems and measurement products for the automotive market.

The company said that trading in the first four months of its financial year, ending August 31, has been in line with expectations. It added that the company has shown "encouraging momentum."

Further, AB Dynamics noted that it has a "solid" order book, providing good visibility into the second half of the year, whilst the integration of Ansible Motion Ltd is progressing as planned.

The company bought Ansible Motion for GBP19.2 million in September. At the time, AB Dynamics said: "Ansible Motion is a leading provider of advanced simulators to the global automotive market. Ansible Motion's products are used for a wide range of applications including evaluation of advanced driver assistance systems, autonomy, vehicle dynamics, powertrain development and motorsport."

Looking ahead, AB Dynamics said it remains confident that it will make further financial and strategic progress this year and its expectations for financial year 2023 are unchanged. It added that it remains mindful of ongoing supply chain disruption and wider economic uncertainty.

AB Dynamics will report its interim results for the six months ended February 28, 2023, on April 25.

Shares in AB Dynamics were down 0.7% to 1,614.00 pence each in London on Wednesday morning.

By Sophie Rose, Alliance News reporter

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