Wiltshire's AB Dynamics performs strongly in second half

Wiltshire- based AB Dynamics plc has told investors that it performed strongly during the second half, delivering "significant organic" growth.

The company, which manufactures advanced testing, simulation and measurement products to the global transport market, made the announcement ahead of publishing its results for the year to end-August, 2024.

READ MORE: AB Dynamics reveals record revenues and profits

Full year year revenue is expected to exceed £110 million, the company said, adding that testing products had continued to experience strong demand, while order intake continued to be strong as the firm enters fiscal 2025.

Full year adjusted operating profit is anticipated to be ahead of current market expectations of between £17.3m and £18.8m, the company added.

Also in the statement, AB Dynamics said it had completed its acquisition of Germany-based Bolab Systems GmbH on September 25 this year for an initial consideration of €5.0 million (£4.2m).

"The board expects that the acquisition will be earnings enhancing in FY 2025 with annualised revenue forecast to be approximately €4.0m (£3.2m) and forecast adjusted operating profit of approximately €0.8m (£0.7m)," it said.

The acquisition was completed on a cash-free, debt-free basis with the initial cash consideration funded from existing cash.

Further consideration of up to €6m (£5.1m) is payable in cash across two tranches for the two years following completion, subject to meeting certain performance criteria for each year.