AB Dynamics drops despite solid results

The share price of AIM-listed automotive testing systems specialist AB Dynamics (LON:ABDP) has dropped by 8.77% to 2,600p (as of 13:55 GMT) despite the company posting a 38% rise in profits before tax for the year ended 31st August. Revenues for the year were up by 56% as new products entered the market.

CEO Dr James Routh commented: “The Group’s performance in 2019 was very strong, delivered through continued development of new products and services to a buoyant market for Advanced Driver Assistance Systems and autonomous vehicle development. AB Dynamics delivered another year of strong growth in adjusted earnings per share whilst simultaneously initiating the delivery of the Group’s updated strategic priorities, including the acquisitions delivered during the second half. 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“.