Automotive testing system manufacturer AB Dynamics (LON:ABDP) reported a steep rise in revenue over the last half of the year, sending shares up 5.5 percent in early trading.
Profit before tax, excluding share option costs, increased 34 percent to £3.30 million, an increase from £2.46 million the year before, while revenues increased 39 percent to £15.3 million.
Cash flow from operating activities increased by £4 million to £5.3 million, whilst basic earnings per share increased 86 percent to 12.35p. The group appeased its investors with a 10 percent interim dividend hike, up to 1.465 pence per ordinary share.
Management maintained a positive stance going forward, saying in a statement:
“We have built a good forward order book, both for the remainder of 2018 and into next year which gives us confidence in meeting market expectations”.
Shares in Ab Dynamics, who are based in the UK but provide testing systems to the global automotive industry, are currently trading up 5.43 percent at 970.00 (0948GMT).
