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AB Dynamics soars as full year profits forecast to be “significantly” ahead of expectations

Chairman Tony Best said the growth in turnover had stemmed from increased sales of track testing products, used in the development of autonomous vehicle technology

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Shares were up 14.8% at 1,472.5p

AB Dynamics plc (LON:ABDP) shares soared in early trading Thursday after the firm forecast that both its revenues and profits in the full year would “significantly exceed” market expectations.

In a trading update ahead of its full-year results, the testing and measurement equipment maker said the group had performed well throughout the year, with chairman Tony Best saying the significant growth in turnover had stemmed from increased sales of AB’s track testing products, which are used in the development and testing of semi-autonomous and fully autonomous vehicle technology.

The firm will release its final results for the year on November 14.

Shares were up 14.8% at 1,472.5p.

Quick facts: AB Dynamics PLC

Price: 2172.55 GBX

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