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LONDON (Alliance News) - AB Dynamics PLC Monday signalled its confidence by announcing its maiden interim dividend, as it saw pretax profit rise in the half-year to the end of February.
The testing systems and measurement products proposed an interim dividend of 1.0 pence.
AB Dynamics posted a pretax profit of GBP1.16 million, up from GBP1.07 million, as it saw revenue rise to GBP6.7 million from GBP5.9 million, although this was partly offset by higher sales costs and administrative expenses.
The company was granted planning permission from the Wiltshire council in February to build a new factory, which it expects to complete in the first-half of 2015. It said that this new facility, combined with its strong order book and continued product development, gave it confidence for a "prosperous future."
The company said it had seen a strong performance from its Track Testing Systems, boosted by its investments in staff and product development.
In its Laboratory Testing business the company won a new order from the China Automobile Engineering Research Institute worth GBP1.6 million to upgrade its suspension parameter measuring machine.
AB Dynamics said it had located an engineer in Japan to support its customers in that region, and is looking to invest in additional engineering resources in Asia in the near future.
Shares in AB Dynamics were trading up 1.8% at 170.00 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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