AB Dynamics PLC has released its unaudited interim results for the six months ending on February 29, 2024. The company reported a strong financial performance and clear strategic progress during this period. The financial highlights include a revenue increase of 8% to £52.3 million, a 12% growth in testing products revenue, and a 23% increase in testing services revenue. The Group's operating margin improved by 110 basis points to 17.0%, and the net cash at the period end was £29.1 million. The interim dividend per share increased by 20% to 2.33p.

The company's operational and strategic highlights include the approval of the Group's pedestrian dummy, the Soft Pedestrian 360 and the LaunchPad Spin by Euro NCAP. AB Dynamics also delivered the first units of the new durability testing solution and expects initial revenues from the retrofit pedestrian detection system for the construction industry during H2. Additionally, the Group acquired Venshure Test Services, a provider of mileage accumulation, electric vehicle, and environmental testing services in the US.

AB Dynamics is well-positioned to sustain growth momentum over the medium term, supported by strong organic growth across automotive markets, the substantial opportunity beyond automotive markets presented by ABD Solutions, and a strong financial position that provides scope for further value-enhancing growth investment in FY 2024 and beyond.

The company's current trading and outlook indicate a solid order book, providing good visibility for the second half of the year. The Board is confident that performance momentum in the first half margin can be sustained and expects the Group to deliver full-year adjusted operating profit ahead of its current expectations. The future growth prospects remain supported by long-term structural and regulatory growth drivers in active safety, autonomous systems, and the automation of vehicle applications.

Dr. James Routh, Chief Executive Officer of AB Dynamics, commented on the results, stating, "The Group has delivered a strong performance in the first half of the year, capitalizing on supportive conditions across key markets and demonstrating the benefits of the investment made in recent years in the commercial and operating capabilities."