AB Dynamics PLC AGM Statement (4631L)
January 13 2021 - 1:00AM
UK Regulatory
TIDMABDP
RNS Number : 4631L
AB Dynamics PLC
13 January 2021
13 January 2021
AB Dynamics plc
("AB Dynamics", the "Company" or the "Group")
AGM Trading Update
AB Dynamics plc (AIM: ABDP), the designer, manufacturer and
supplier of advanced testing systems and measurement products to
the global automotive market, issues the following trading update,
to coincide with the Company's Annual General Meeting taking place
later today.
Current trading and outlook
The Board is pleased to report that conditions through the end
of 2020 remained consistent with expectations as at the time of the
Group's full year results on 25 November 2020, with demand in the
first four months of the current year in line with the Q4 FY20 exit
rate. The Group continues to make good progress in the execution of
its strategy.
Whilst the Group continues to monitor the evolving COVID-19
situation and the current disruption associated with further waves
of infection in various operational and end market territories, the
underlying market drivers continue to be compelling. The Board
remains confident that the medium-term outlook is positive and that
the Group can continue to deliver on its strategic priorities.
Financial position
The balance sheet remains strong with cash at 31 December 2020
of GBP33.9m (31 December 2019: GBP36.4m, 31 August 2020 GBP31.2m) ,
underpinning the Group's investment plans.
Interim results date
The Group will report its interim results for the six months
ended 28 February 2021 on 28 April 2021.
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
Tulchan Communications 0207 353 4200
James Macey White
Matt Low
Laura Marshall
The person responsible for arranging the release of this
information is Felicity Jackson, Company Secretary.
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END
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