Upbeat SDI grows revenues and eyes fresh acquisitions
Cambridge scientific technology innovator SDI Group plc has defied pandemic-hit market conditions by hoisting revenues by 41 per cent in the year to April 30 – and is eyeing fresh acquisitions.
The UK group is focused on the design and manufacture of scientific and technology products for use in digital imaging and sensing and control applications.
Full year revenues are up to £24.5 million from £17.4m year-on-year; the growth is both organic (four per cent) and from acquisitions (36 per cent), reflecting full year contributions from Fistreem International, Thermal Exchange, Graticules Optics and MPB Industries.
Adjusted profit before tax increased 44 per cent to £4.3m while cash generated from operations also rose 44 per cent to £5.2m.
Chairman Ken Ford said: “We are pleased to report another year of growth in line with expectations, despite the impact of COVID-19.
“SDI Group has started the new financial year in a strong financial position and a number of our companies have seen increased demand for medical products which are being used to address the COVID-19 challenges.
“Other companies within the group face some uncertainty and a downturn in orders although all our manufacturing facilities remain in operation. There are early signs of a return to normality in trading and overall SDI remains profitable and cash generative.
“SDI continues to seek acquisitions and looks forward to growing organically and through acquisition as conditions improve.”