AB Dynamics (AIM:ABDP) - This little business continues to deliver fabulous results
The designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, has announced tremendous results for the six months to 29th February 2016. The move to a larger facility in 2017, increased sales in Europe and Asia and the recent strategic alliance with Williams suggests a very exciting future for this specialist engineer.
Profit before tax for the half year rose 50% to £2.26m on revenues up 34% to 10.11m. The operating profit of £2.25m (operating margin 22.25% vs 20.17% in 2015) resulted in a net (post tax) operating cash inflow of £2.8m. Margins in the period were also boosted by favourable currency. Having incurred £338k of capex in the period, cash at the period end was boosted to £10.15m (2015: £7.03m). Evidently cash is set to fall as investment is made in the development of the new facility. The Group confirmed that it continued to enjoy strong demand for its products and…