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AB Dynamics caps excellent year with forecast-busting results

At the year end, ABD was sitting on a cash pile of almost £8mln, which is the equivalent of around 17% of the firm’s current market capitalisation.

driverless-car.jpg
ABD's technology is being used to test the new generation of driverless cars.

AB Dynamics (LON:ABDP), which makes and supplies advanced test beds for cars, this morning said profits had surged more than 40% in the year just gone, while there is already enough in the order pipeline to see it through to the third quarter of 2016.

Buoyed by a first big deal from Brazil and the recovery of its traditional markets in Europe and Asia, revenues rose 19% to £16.52mln. Operationally geared to an upturn in its fortunes, operating profits advanced at double the percentage rate to £3.74mln in the 12 months to the end of August.

At the year end, ABD was sitting on a cash pile of almost £8mln, which is the equivalent of around 17% of the firm’s current market capitalisation.

Both profits and cash exceeded the forecasts provided by the broker Cantor Fitzgerald ahead of the results.

The final dividend will be 1.65p, giving a total payout of 2.75p, which means ABD is yielding around 1%.  

"We have had another excellent year, with demand for our products and services increasing in line with higher R&D spending by the global automotive testing sector,” said managing director Tim Rogers.

Quick facts: AB Dynamics PLC

Price: 2172.55 GBX

AIM:ABDP
Market: AIM
Market Cap: £490.49 m
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