AB Dynamics (AIM:ABDP) shares soar and then a positive trading update after the close, naughty!
Shares in the designer and manufacturer of advanced testing systems and measurement products to the automotive industry rose 16% today in the absence of any news, at least news during the trading day. However, shortly after the market close the Company issued a highly positive trading update in advance of its final results for the twelve months ended 31 August 2015. It looks like someone in possession of inside knowledge may have succumbed to temptation!
The trading update confirmed that the Group has performed well in 2015 and revenues and profits are now expected to be “materially ahead of market forecasts”. Consensus forecasts are currently for pre-tax profit of £3.1m and eps of 13.89p.
The Group is also in the fortuitous financial position of being able to decline a grant of up to £2.3m from the UK Government’s Regional Growth Fund, viewing the conditions as “over burdensome”.
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