The AB Dynamics Board is recommending a final divided of 3.24p per share giving a total dividend for the year of 4.84p per share, which is an increase of 10% over the prior year, resuming the Board's progressive dividend policy.
Other financial highlights include:
Strong second half performance, managing supply chain disruption and currency headwinds effectively in order to meet strengthening demand during the period
Continued recovery in the Group's markets translated into improved order intake with positive book to bill ratio across both divisions
Revenue for the first half of the year was broadly comparable to H2 2020 with COVID-19 impact continuing into the current year
Track testing revenue decreased by 4%, impacted by COVID-19 disruption to customer testing activity, although driving robot and Advanced Driver Assistance System (ADAS) platform revenue recovered well during the second half
Laboratory testing and simulation revenues increased by 62% as a result of significant growth in SPMM and simulation revenues following the deferments in the prior year and successful sales campaigns
Reduction in adjusted operating margins to 16.6% driven by product mix and continued strategic investment in capability to support long-term growth drivers
Significant cash generation of £16.0m (2020: £6.9m) leaving net cash at year end of £22.3m (2020: £30.0m) after funding the acquisition of Vadotech and investing £6.6m in capital expenditure in the period
