StockMarketWire.com - Advanced testing systems company AB Dynamics said it expected operating profit to meet market expectations following a stronger second half performance.

The company expects to report revenue for FY21 of £65 million, and full year adjusted operating profit for FY21 in line with current consensus expectations.

Revenue for the second half of the year was approximately 20% higher organically than the COVID-impacted H2 2020 and approximately 40% higher on a reported basis, including the contribution from Vadotech, which was acquired in March 2021, the company said.

'The group performed well during the second half of the year, managing supply chain disruption and currency headwinds effectively in order to meet the strengthening in demand during the period,' the company said.

'Notwithstanding a challenging backdrop generally, the Group has seen a continued recovery in demand through the second half across all key product and service lines, which demonstrates the resilience of ABD's markets,' it added.

The company also said it would ABD solutions, a new business unit, focused on 'providing retrofit solutions that enable the automation of conventional off-road vehicle fleets rapidly and cost effectively.'


Story provided by StockMarketWire.com