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Interim Results

AB Dynamics hikes divi as revenues and profits rise

25 April 2017 07:48

AB Dynamics' revenues rose by 9% to £11.0m in the six months to the end of February.

Profit before tax, excluding share option costs, rose 9% to £2.5m and the group reported increased capital expenditure of £2.6m (H1 2016: £0.3m) in line with management expectations.

Other highlights:

- Net cash at 28 February of £14.8m (H1 2016: £10.2m)

- Basic EPS adjusted for share option costs of £0.8m increased to 11.04p (H1 2016: 10.53p)

- Interim dividend increased 10% to 1.331p per ordinary share (H1 2016: 1.21p)

Chief executive Tim Rogers said: "We are very pleased to report on a solid first half of the financial year.

"We have a good forward order book for the remainder of 2017 and well in to next year which gives us confidence in meeting market expectations. "The Group continues to invest in people, products and facilities, reaching a landmark of 100 employees.

"Separate commercial and business development teams have been established to create a group structure capable of supporting our large and growing customer base, whilst delivering new products and services to our customers.

"The board is pleased to announce the increased dividend to shareholders of 1.331p per ordinary share which underlines the strength of the business and future prospects."

Story provided by StockMarketWire.com

Related Company: ABDP

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