Acquisitions loom large for Scientific Digital Imaging
Scientific Digital Imaging, the quoted scientific instrument manufacturer based in Cambridge’s Nuffield Road, reported a pre-tax profit of £903,000 for the year ended April 30 – almost double the previous year. Revenue increased to £10.7 million from £8.5m.
SDI says it has identified a number of potential acquisitions; in January, it acquired chemical dosing and control system supplier Astles which is expected to be earnings enhancing in its full year of ownership.
The company had year-end cash of £2.4m, up from £1.7m on 2016. It said its Sentek sensor business and Atik Cameras unit both exceeded sales forecasts, with good growth of sales to original equipment manufacturers.
The picture is slightly different in SDI’s largest business, Synoptics; the Syngene segment is facing pricing competition for image analysers and SDI will discontinue systems with a low profit margin, which the company said “may affect sales turnover” but at the same time improve profitability.
Chairman Ken Ford (pictured) said: “The board expects SDI to make good progress over the coming financial year as we continue to pursue our strategy of organic and acquisitive growth.
“The positive contributions of Sentek and Artemis CCD via their global OEM business, as well as direct sales of Synbiosis and Astles products, are expected to drive continued growth and profitability.”