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(Sharecast News) - AB Dynamics said in an update on Thursday that trading for the first nine months of its financial year ending 31 August was in line with expectations, supported by a solid order book and improving margins heading into the final quarter.
The AIM-traded company said third-quarter trading to 31 May was consistent with trends seen in the first half.
Its board was confident of delivering adjusted operating profit for the full year in line with market expectations, despite acknowledging potential risks from macroeconomic uncertainty and foreign exchange headwinds.
AB Dynamics reported a strong financial position, with net cash of £31.2m at the end of May, up from £28.6m at the end of August last year.
The group said its balance sheet strength, alongside continued cash generation, left it well placed to invest in organic growth and pursue further acquisitions in line with its value creation plan set out in November last year.
At 1440 BST, shares in AB Dynamics were up 5.49% at 1,730p.
Reporting by Josh White for Sharecast.com.
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