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Highlights

  • In H1 FY24, ABDP posted a YoY growth of about 7.6% in total revenue
  • The company’s statutory operating profit grew by around 96.4%
  • ABDP has announced to pay an interim dividend of 2.33 pence per share on 17 May 2024

AB Dynamics PLC (LSE: ABDP) is a multinational company operating in the automotive sector, listed on the FTSE AIM 100. The company’s market capitalisation stands at GBP 438.28 mn.

In H1 FY24, ABDP demonstrated operating leverage, gross margin gains, and enhanced efficiency by posting a year-on-year (YoY) growth of about 7.6% in total revenue. Likewise, driven by the increased activity levels and improved performance efforts, the company’s statutory operating profit grew by around 96.4%.

The company also increased its interim dividend by around 20.1% during the reporting period. It has announced to pay an interim dividend of 2.33 pence per share on 17 May 2024.

Recent business update

On 03 April, ABDP announced the acquisition of Venshure Test Services LLC (VTS). The acquisition is for a maximum consideration payable of USD 30 mn, with an initial cash consideration of USD 15.0 mn. The acquisition of VTS is supposed to expand the company’s scope of services in the testing services area and enhance the group’s capacities.

Company outlook

In line with the technology roadmap for product testing and simulation markets, ABDP has expedited its progress regarding new product development. Moreover, the improved order book has provided an increased revenue visibility for H2 FY24. Overall, backed by improved margins and the acquisition of VTS, ABDP is expecting to deliver FY24 operating margins higher than its expectations.

Top 10 Shareholders

The top 10 shareholders of ABDP collectively form around ~57.46% of the total shareholdings in the company. Best (Anthony) holds the maximum number of shares with ~24.88% shareholding, followed by Octopus Investments Limited with ~8.06% shareholding, as depicted in the chart below: 

Stock performance

The stock price of ABDP has witnessed an uptick of around 9.15% in the last one month and over the last 6 months, it has increased by around 11.17%. The stock has a 52-week low and 52-week high of GBX 178.00 & GBX 300.00, respectively. It is currently trading lower than the average of its 52-week high-low.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 13 May 2024. The reference data in this report has been partly sourced from EODHD/Others.