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Wiltshire-headquartered automotive products manufacturer AB Dynamics has posted a 24 per cent rise in turnover after “another good year” across its three business areas.
According to the listed company’s final results for the year ended 31 August 2016, revenue grew to £20.5m from £16.5m in 2015.
Pre-tax profit also increased to £4.45m from £3.82m the year before.
The Bradford-on-Avon-based company said its track testing, laboratory testing and test and monitoring system businesses had each performed in line with management expectations.
Construction work has started on its new 33,000 sq ft facility with, completion targeted for the third quarter 2017, and it has leased two addition properties to support demand for its products.
Tim Rogers, chief executive of AB Dynamics, said: “The company has spent more on research and development this year than in previous years and has seen the performance, quality and reputation of its products improve leading to steady growth in their uptake. Construction has now started on our new facility with completion targeted for the third quarter 2017.
“With current orders taking us into our third quarter, we remain committed to being able to provide capacity to fulfil these orders whilst ensuring that we focus on future business opportunities.”
AB Dynamics designs, manufactures and suppliers advanced testing and measurement products for vehicle suspension, brakes and steering both in the laboratory and on the test track.