AB Dynamics, manufacturer of driving robots and simulators used by the Alfa Romeo Formula 1 team, had £37m in revenue in the six months up to February, more than £10m more than the previous year.
The company had £5.7m in operating profit, a 63 per cent increase on 2021, while net cash was down 16 per cent.
The company increased its order intake, with a focus on Asia’s Pacific region, with an improvement in conversion of orders to sales.
It said while supply chain pressures remain, due to inflation and the war in Ukraine, it has mitigated this “through price increases for new orders.”
Dr James Routh, Chief Executive of AB Dynammics welcomed the news “against the backdrop of external challenges in relation to supply chain disruption and inflationary pressures”.
He said the firm “has, to date, successfully mitigated” them “whilst mindful of ongoing geopolitical uncertainty and the risk of further logistics disruption and inflation, given the improvement in order intake, the Board now expects the financial results for the year to be slightly ahead of market expectations.”