23 March 2022
AB Dynamics plc
("AB Dynamics", the "Company" or the "Group")
Trading Update and Notice of Results
AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing, simulation and measurement products and services to the global transport market, issues the following trading update in advance of the publication of its interim results for the period ended 28 February 2022.
Business performance
The Board is pleased with the progress made against its strategy, with performance for the six months ended 28 February 2022 in line with the Board's expectations.
Whilst the current operating environment still presents challenges in relation to potential supply chain disruption, operational output has not been adversely affected to date and the Group has been successful in mitigating inflationary cost pressures through price increases for new orders.
Underlying demand conditions in our key markets and customer activity levels have resulted in a positive book to bill ratio being maintained throughout the first half. Whilst mindful of ongoing geopolitical uncertainty, the Board's expectations for the year are unchanged.
Financial position
Robust operating cash generation continues to fund investment and the resulting positive free cash flow leaves net cash, as at 28 February 2022, up £5.4m to £27.7m (28 February 2021: £33.1m, 31 August 2021 £22.3m), which leaves the Group in a strong position from which to drive further strategic progress.
Interim results date
The Group will report its interim results for the six months ended 28 February 2022 on 27 April 2022. The management team will be hosting a presentation for analysts on the day of the results. Anyone wishing to attend the presentation should register their interest with Tulchan Communications at abdynamics@tulchangroup.com or 0207 353 4200.
Enquiries:
| AB Dynamics plc | 01225 860 200 |
| Dr James Routh, Chief Executive Officer Sarah Matthews-DeMers, Chief Financial Officer | |
| | |
| Peel Hunt LLP | 0207 418 8900 |
| Mike Bell Ed Allsopp | |
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| Tulchan Communications | 0207 353 4200 |
| James Macey White Matt Low Laura Marshall | |
The person responsible for arranging the release of this information is David Forbes, Company Secretary.
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