SDI Group PLC – Interim Results

The Board of Directors of SDI Group plc, the AIM quoted group focused on the design and manufacture of scientific and technology products for use in digital imaging and sensing and control applications, is pleased to announce another strong set of results and solid operational progress for the six months to end October 2019.

 

 

Highlights

 

·      Revenue increased by 42% to £11.45m (2018: £8.05m)

·      Revenue growth both organic (6.4%) and from acquisitions (35.8%)

·      Adjusted Operating Profit* increased 41% to £2.10m (2018: £1.49m)

–     Statutory operating profit increased 32% to £1.62m (2018: £1.23m)

·      Adjusted Profit Before Tax* increased 36% to £2.00m (2018: £1.46m)

–     Profit before taxation increased 27% to £1.52m (2018: £1.20m)

·      Adjusted diluted EPS* increased 28% to 1.70p (2018: 1.33p)

–     Statutory diluted EPS increased by 20% to 1.32p (2018: 1.10p)

·      Cash generated from operations increased 34% to £2.05m (2018: £1.53m)

·      Net debt** at 31 October 2019 was £0.57m (30 April 2019: net debt of £1.51m)

·      On 29 November 2019, after the end of the reporting period, SDI acquired Chell Instruments Limited for a consideration of £4.3m plus an additional cash payment for net assets at completion.

 * before reorganisation costs, acquisition and fundraising costs, amortisation of acquired intangibles and share based payments

** bank finance less cash and cash equivalents

 

Ken Ford, Chairman of SDI, said:

 

“The Group has made a good start to the financial year. Despite the potential for economic variability, influenced by political conditions (including Brexit) and currency fluctuations, the Board is confident that our diversified portfolio of businesses is on course to deliver a full year financial performance in line with market expectations.“