(Alliance News) - AB Dynamics PLC on Wednesday upped its full-year dividend on the back of higher revenue and profit.
AB Dynamics is a Bradford-on-Avon, Wiltshire-based company, which tests systems and measurement products for the automotive market.
Revenue in the year ended August 31 rose 21% to GBP100.8 million from GBP83.2 million a year earlier.
Pretax profit climbed to GBP11.5 million from GBP5.8 million
On the back of the results, AB Dynamics upped its dividend by 20% to 6.36 pence from 5.30p.
AB Dynamics said trading in financial 2024 has been "encouraging, supported by the solid current order book which provides good visibility into the second half of the year."
It said it has left expectations for financial 2024 unchanged.
Chief Executive Officer James Routh said: "Trading in FY2024 has been encouraging, supported by a solid order book providing good visibility into the second half of the year. Whilst being mindful of timing of pipeline conversion and customer delivery schedules, the board remains confident that the group will make further financial and strategic progress and its expectations for FY2024 are unchanged.
Shares in AB Dynamics were up 0.6% to 1,710.00 pence each in London on Wednesday afternoon.
By Sophie Rose, Alliance News senior reporter
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AB Dynamics (ABDP)