StockMarketWire.com - Automotive testing system supplier AB Dynamics said annual profit rose by more than a third as new product development and an international expansion boosted revenue.

For the year ended 31 August 2019, pre-tax profit rose 38% to £11m on-year and revenue jumped 56% to £58m.

The company attributed the jump in growth to increased demand for its products and services, supported by new product development and establishment of international routes to market.

The total dividend was increased by 20% to 4.40p per share.

'Despite global macro-economic uncertainty and challenges facing the automotive sector, the Board remains confident that the Group will continue to deliver further growth in the coming year,' the company said.

At 8:12am: [LON:ABDP] AB Dynamics Plc share price was -230p at 2620p



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