SDI Group significantly increases profit and revenue
Cambridge-based science and technology influencer SDI Group increased revenue by 23 per cent to £14.13 million in the six months to October 31. Reported profit before tax was 56 per cent higher to £2.53m.
AIM-quoted SDI Group plc designs and manufactures scientific and technology products for use in digital imaging and sensing and control applications.
The interims also showed a strong contribution from products designed into equipment used in testing for and treating COVID-19; this was in contrast to the impact of the pandemic on the broader economy.
Cash generated from operations increased 130 per cent to £4.72m and despite several acquisitions, SDI’s net debt is only £4.04m.
Chairman Ken Ford said that while maintaining safe working conditions, the group had adapted to changing patterns of demand and dramatically increased capacity and output in areas where its products could contribute to the global response to COVID-19.
As we recently reported, since period-end SDI has acquired Monmouth Scientific Limited.
Ken Ford said: “We are pleased to report another strong set of financial results. Our business model has shown resilience in the period and despite the ongoing uncertainties the board remains confident that SDI will deliver a full year financial performance in line with market expectations.”
The share price was markedly higher soon after the UK exchange opened on Wednesday.