SDI revenue up 72 per cent and pre-tax profits soar 115 per cent
SDI Group in Cambridge has hoisted revenue 75 per cent to £24.7 million and pre-tax profit 115 per cent to £5.1m for the six months to October 31.
It has also strengthened its war chest to pave the way for further acquisition opportunities.
The AIM quoted group focuses on the design and manufacture of scientific and technology products used in digital imaging and sensing and control applications.
SDI says that the FY21 acquisitions of Monmouth Scientific and Uniform Engineering have performed ahead of management’s expectations and have been fully integrated into the group.
On November 1, SDI renewed and expanded its committed loan facility with HSBC to £20m, with a further accordion option of an additional £10m (at the discretion of HSBC), which, with the current net cash position and strong cash flow provides sufficient funding for acquisition opportunities.
Chairman Ken Ford said: “We are pleased to report yet another strong set of financial results. SDI Group continues to execute on its business model, investing in quality businesses that are able to grow while generating cash. We look forward to delivering a full year performance in line with market expectations.”
Based on broker research, SDI is eyeing revenue of £45.05m and PBT of £9.2m for FY 2022.