Adjustments galore to consider
News from AIM covered here include results from two companies where growth is being fuelled by acquisitions, with one in particular taking acquisition mania to a whole new level. Acquisitions bring plenty of adjustments to the financial results, some of which look highly questionable to us as you can discover here!
Delightful and questionable, take your pick! AB Dynamics (AIM:ABDP), the designer and manufacturer of advanced testing, simulation and measurement products to the automotive sector, encouraged with its full year results. Having stormed to over 2500p back in 2019, the share price has, not surprisingly, struggled to make much progress since then, although at the operating level the signs are looking better. We are, however, disappointed at management’s enthusiasm for adjustments, some of which look highly questionable to us. For the year ended 31 August 2022 revenue rose 23% to £80.3m, with the second half of the year particularly strong, with…