Facilities by ADF PLC on Friday said it expects full-year revenue and profit ahead of market expectations on robust market conditions and a strong close to 2021.

The Bridgend, Wales-based company is a provider of vehicles for television and film productions.

It expects to report revenue of £27.8 million and adjusted earnings before interest, taxes, depreciation, and amortization of not less than £7.5 million for 2021.

This would be ahead of current market expectations and can be put down to robust trading conditions and a strong close to 2021.

The company continued that market dynamics remained strong with robust demand for film and high-end television in the UK.

‘This is further supported by unprecedented levels of investment in UK studio space and content, which bodes well for the Company’s growth ambitions,’ Facilities by ADF said.

The company raised £15 million of gross proceeds on its admission to trading on AIM in January 2022. It has already started to invest this by expanding orders for additional vehicles and trailers to meet the demand.

Additionally, Facilities by ADF is reviewing initial acquisition opportunities.

The company continues to have strong order visibility for this year as well as a growing order book for 2023.

‘I’m very pleased with the start we have made as a public company. We have an excellent customer base and a market backdrop which is seeing vast amounts of investment in the UK film and high-end television industry. As we deploy the funds raised at the initial public offering, we will continue to execute our ambitious, yet highly achievable growth strategy,’ Chief Executive Marsden Proctor said.

Shares were up 0.7% at 84.25 pence each on Friday morning in London.

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