H1 rock solid – and strategic foundations laid
AB Dynamics (“ABD”) has delivered a strong H1 FY19 performance for the six months to February, as heralded in the early-April update. Revenue grew a stunning 69%, and reported PBT almost doubled. The group appears to be benefiting from recent investment, and is well placed to continue to prosper in a highly attractive (and growing) end market. The announcement also includes five pillars of the revised strategy – New Product Development, Capability & Capacity, International Footprint, Service and Support, and Acquisitive Growth. We increase our adjusted PBT estimates by 9% and 8% respectively for FY 2019E and FY 2020E and look forward to the group delivering against its clearly-significant potential.