Business
Trading Update and Notice of Results
Trading Update and Notice of Results.
About this update from Sdi Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2755R\n SDI Group PLC\n 04 November 2021\n \n \n \n \n SDI Group plc\n \n \n \n \n \n (\"SDI\", the \"Company\", or the \"Group\")\n \n \n \n \n \n Trading Update \n \n \n and \n \n \n Notice of Results\n \n \n \n \n \n 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.\n \n \n The Group expects to report very strong sales and profits for the half year ended 31 October 2021 (\"H1\"), with approximately £24.7m of Revenue (H1 2021: £14.1m; H1 2020: £11.4m). 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%.\n \n \n 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.\n \n \n Performance in other areas of our business has been strong, and the Board expects full year Revenue to be around £45m, ahead of current market expectations\n \n 1\n \n . 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 Adjusted2 Profit Before Tax to also be modestly above current market expectations at around £9.2m\n \n 1\n \n \n .\n \n \n \n While we have not completed any acquisitions to date in the year, there has been no shortage of activity with potential targets. \n \n \n On 1 November 2021, we renewed and expanded our committed loan facility with HSBC to £20m, with a further accordion option of an additional £10m (at the discretion of HSBC), which, with our current net cash position and strong cash flow, provides sufficient funding for acquisition opportunities. \n \n \n The Group expects to publish its interim results for the six months to 31 October 2021 on 7 December 2021.\n \n \n  ...