SDI Group PLC Trading Update and Notice of Results (2755R)
04 Noviembre 2021 - 01:00AM
UK Regulatory
TIDMSDI
RNS Number : 2755R
SDI Group PLC
04 November 2021
SDI Group plc
("SDI", the "Company", or the "Group")
Trading Update
and
Notice of Results
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 control applications, is pleased to
announce an update on trading for the current year ending 30 April
2022.
The Group expects to report very strong sales and profits for
the half year ended 31 October 2021 ("H1"), with approximately
GBP24.7m of Revenue (H1 2021: GBP14.1m; H1 2020: GBP11.4m).
Alongside the valuable contributions from Monmouth Scientific and
Uniform Engineering, both acquired in the second half of FY 2021,
we expect to report organic revenue growth in excess of 40%.
As previously announced, the Atik Cameras division has
benefitted in FY 2021 and in FY 2022 from exceptional orders for
cameras to be used in real time PCR DNA amplifiers whose end demand
is related to testing for COVID-19. Shipments against these orders
have continued through H1 2022 but will be substantially reduced in
the second half of the financial year, fully in line with
expectations.
Performance in other areas of our business has been strong, and
the Board expects full year Revenue to be around GBP45m, ahead of
current market expectations (1) . In common with much of the
manufacturing industry, the Group is experiencing supply chain
challenges, but to date we are managing this well. Accordingly, the
Board expects full year Adjusted(2) Profit Before Tax to also be
modestly above current market expectations at around GBP9.2m (1)
.
While we have not completed any acquisitions to date in the
year, there has been no shortage of activity with potential
targets.
On 1 November 2021, we renewed and expanded our committed loan
facility with HSBC to GBP20m, with a further accordion option of an
additional GBP10m (at the discretion of HSBC), which, with our
current net cash position and strong cash flow, provides sufficient
funding for acquisition opportunities.
The Group expects to publish its interim results for the six
months to 31 October 2021 on 7 December 2021.
(1) Analysts from our Broker finnCap Limited and from
Progressive Equity Research regularly provide research on the
Company, and the Group considers the average of their forecasts to
represent market expectations for FY 2022 being, prior to this
announcement, Revenue of GBP42.05m and Adjusted(2) Profit Before
Tax of GBP8.85m
(2) Before amortisation of acquired intangible assets,
reorganisation costs, acquisition costs and share based
payments
Enquiries
SDI Group plc 01223 727144
Ken Ford, Chairman
Mike Creedon, CEO
Jon Abell, CFO
finnCap Ltd 020 7220 0500
Ed Frisby/Kate Bannatyne/Milesh Hindocha - Corporate Finance
Andrew Burdis/Sunila de Silva - ECM
JW Communications 07818 430 877
Julia Wilson - Investor & Public Relations
About SDI Group plc:
SDI designs and manufactures scientific and technology products
for use in digital imaging and sensing and control applications
including life sciences, healthcare, astronomy, manufacturing,
precision optics and art conservation. SDI operates through its
company divisions: Atik Cameras, Synoptics, Graticules Optics,
Sentek, Astles Control Systems, Applied Thermal Control, MPB
Industries, Chell Instruments, Monmouth Scientific and Uniform
Engineering.
SDI continues to grow by developing its own technology
advancements and by improving its global sales channels, as well as
through pursuing strategic, complementary acquisitions.
www.thesdigroup.net
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