AB Dynamics hints at bumper full-year profit
Advanced testing systems designer, manufacturer and supplier AB Dynamics updated the market on its trading on Tuesday, ahead of its final results for the 12 months to 31 August.
The AIM-traded company said it performed “well” in 2017, and its board expected revenue and profit before tax - excluding share option charges and latest IFRS 15 adjustments - to be slightly ahead of analyst forecasts.
It noted that it had chosen early adoption of IFRS 15, from 1 March 2017, and that was expected to lead to a reduction in the level of reported revenue for the year, but with no consequential impact on profit before tax.
Despite the adoption of IFRS 15, AB Dynamics anticipated that reported revenue would still remain in line with current market expectations.
“The group has continued to perform well in the period with significant year on year growth in both underlying revenues and profits before tax,” said AB Dynamics chief executive Tim Rogers.
“We have now commenced the move to our new state of the art factory and offices and I am pleased to be able to report that the current order book is the largest in the group's history.”
AB Dynamics said it would announce its final results for the 12 months to 31 August on 15 November.