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AB Dynamics shifts into higher gear

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Safety conscious car manufacturers steered AB Dynamics (LON:ABDP) to bumper pre-tax profits in the full year to August.

The supplier of testing products for vehicle suspension, brakes and steering, reported revenues of £14mln, a 14% rise compared to last year. 

Profit before tax of £2.7mln was 43% higher than last year's £1.9mln.

Its traditional markets in Europe and Japan performed well, while managing director Tim Rogers says the business has a strong pipeline of orders going forward.

“We have seen continued strong demand for our products and services as our customers in the global automotive testing sector expand their testing capabilities to meet new safety standards and remain competitive,” said Rogers.

The firm, which made its AIM debut last year, is currently finalising planning and design of a new factory HQ near its current site Bradford on Avon.

Shares were up 5% to 166p.

Quick facts: AB Dynamics PLC

Price: 2172.55 GBX

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