Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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Hi Rivaldo. My son moved to Portugal [an hour outside Lisbon],last august. CV has been terrible there since the second wave went thro'. When people moan about govt. restriction here , my son was under curfew from 1pm each day,so what SDI have achieved whil'st working under that situation,is truly remarkable. One idea that crosses my mind, is in light of all the 'red tape' incurred since brexit,does having an EU location,for a major part of the business help with european sales ? cheers stay safe Tony
Apart from everything else, the AutoCOL colony counting system from Synoptics sounds particularly exciting, with "interest from 4 of the top 10 Pharma companies".
And the Uniform Engineering acquisition is yet another example of how SDI are not just a buy and build operation, but use their acquisitions to turbo-charge organic growth:
"Within the group we have four businesses that use metal fabrication which is part of the virtual chain, so it makes absolute sense to use our own facility, whilst also extending its reach”".
Https://martinflitton1.wixsite.com/privatepunter/post/sdi-group-in-rude-health-10-02-21
Finncap have raised their target price to 180p (from 130p) following the "ahead" trading statement.
They've also raised their forecasts to 5.5p EPS for this year ending 30th April, and 7.1p EPS for the coming year.
And they also conclude that there's additional upside from that 180p given that JDG and Halma still trade on higher multiples than SDI would be on at 180p........
Excellent. As I said before 200p in the next year looks likely. If they make 9m in 2022 I would expect a market cap of 300m against 118m now
Wow....
SDI now expect PBT for this year to 30th April to be at least 22% above forecasts - and PBT for next year to be at least 50% above forecasts!
Atik is obviously behind some of this, but "also underpinned by the continued recovery of activity across all of its businesses".
Given that SDI are naturally so prudent, we can be pretty sure that these numbers are nailed on.
Stunning:
https://uk.advfn.com/stock-market/london/sdi-SDI/share-news/SDI-Group-PLC-Trading-Update/84290648
Good to see Atik capitalising on their involvement in fighting COVID-19 with a webinar and a new primer explaining the necessity for imaging solutions:
Https://www.atik-cameras.com/news/exploring-imaging-solutions-in-life-science/
after today's acquisition news.
Smaa but perfectly formed. Looks a bargain at £0.35m for £1m turnover and £0.1m PBT, plus all the synergies which can be expected from cross-selling etc:
Https://uk.advfn.com/stock-market/london/sdi-SDI/share-news/SDI-Group-PLC-Acquisition-of-Uniform-Engineering/84209903
perkylad & rivaldo - thanks both :-)
Forseti, SDI are on a much cheaper multiple than JDG, and have been for some time. They are also much smaller in m/cap terms, so the opportunity for outperformance is that much greater. It's much easier to grow from £100m to £200m than it is from £500m to £1 billion.
Good news today from Chell Instruments, who are sounding very bullish:
Https://www.chell.co.uk/news/2021/chell-instruments-welcome-2021-after-2020-exceeds-expectations-
Extracts:
"20.01.21
Chell Instruments Welcome 2021 After 2020 Exceeds Expectations"
"Despite an unpredictable 2020, gas measurement and control experts Chell Instruments still achieved their key goals for the year and are now planning for a successful 2021.
Though the global pandemic caused disruption, the manufacturer has continued to support a growing number of customers and provide precision instrumentation around the world."
"The world-renowned gas measurement and control experts have maintained momentum throughout the year, achieving the targets set for the business. In addition, they have launched a number of new products including an Environmental Flow Test Chamber and a mini pressure scanner with EtherCAT connectivity.
“Even with the challenges, demand looks set to continue to grow in many sectors in 2021. For example, despite the current restrictions on air travel, we’re really excited that our instrumentation is being used in a number of projects working on the electrification of aircraft propulsion” states Nick."
"The firm’s 2021 plans include continual development of their ultra-compact range of ‘Nano’ pressure measuring devices and a special project to deliver a self-contained mobile testing unit for a leading aircraft engine manufacturer."
Personaly i'm selling down my holding a bit atm because it's looking a bit expensive now given the projected growth rate. Also because i like to crystalise profits on the way up so portfolio remains more balanced., It's a solid long term hold for me tho and it wouldn't be the first time i had mis-timed a sell!
I hold both JDG & SDI, and I'm thinking of bailing out of JDG and putting that money in here.
Anyone think that is a good / bad idea ... ?
JDG still seems to be doing OK but this seems to be doing better ..........
HHHHmmmmmm .... ?
Share price is moving up - 70p at end of Oct
Small pull back recently but trend is clear for me. Given prospects, I'm holding not selling.
I sold out of JDG far too early and not making same mistake twice. I may be stupid but not that stupid.....
Why isnt sp price moving up then?
Impressive new 37 page note just out on SDI from Progressive Equity Research:
Https://www.progressive-research.com/research/building-on-its-proven-growth-track-record/
They've taken my comparison to JDG and run with it :o))
"Valuation at a discount to closest peer
Based on our forecasts, SDI Group is trading on EV/EBITDA multiples of 15.7x for FY22, and 14.4x for FY23, and P/E multiples of 26.0x for FY22 and 23.0x for FY23. These valuation multiples should be considered in the context of our forecast for SDI Group’s adjusted EPS five-year CAGR standing at 24.2% at the end of FY21, and the potential for future growth to be boosted by further acquisitions that could be funded from internal cash flows. Based on consensus estimatesas at 8 January 2021, SDI Group is trading at a substantial discount to its closest peer Judges Scientific, which is trading on EV/EBITDA multiples of 28.7x for 2020 and 24.3x for 2021 and P/E multiples of 41.2x for 2020 and 34.0x for 2021."
I suspect their EPS forecasts are undercooked. To Apr'21 I suspect the COVID-related contracts will continue to contribute for longer than allowed for in the forecasts, and possibly through some of the period to Apr'22, whilst the core businesses should imho recover momentum faster than the relatively stale pace allowed for in the forecasts.
And of course that's without any further earnings-enhancing acquisitions.
JDG reported this morning they traded ahead of expectations for 2020. That puts them on a historic P/E of around 42 given the 151.8p EPS consensus stated in their RNS.
For SDI's year ending 30th April an equivalent P/E would put SDI at a 190p share price.
Certainly something to aim for!
I believe this is a new web site for Synoptics, highlighting in particular that this is now a division comprising "digital imaging technology through its Syngene, Synbiosis and Synoptics Health divisions, and water purification and vacuum technologies through its Fistreem division":
Https://www.synoptics.co.uk/
"Synoptics Ltd designs and manufactures scientific instruments based on digital imaging, water purification and vacuum oven processing for the life science research, microbiology and healthcare markets"
Hi Chelsea11 - now 119.5p mid-price! Looks like the market feels a Brexit deal will be good for SDI (and for WIN too judging by today's rise).
I don't generally have price targets. I've met SDI's management several times and have a very high regard for them. So I'm happy to keep holding SDI for the long-term unless something material changes, or the valuation gets ridiculous, which imo it isn't at present.
Rivaldo - on 4th Dec I suggested £1.10 by Christmas. finnCap target is £1.25 and on 7th Dec you thought £1.40 - £1.50 (although noted that you made reference to another acquisition). Given the recent SP movement and COVID developments since all comments, I’d be interested if your viewpoint on SDI has changed at all? PS: on WIN BB also :-)
...followed by 15,000 shares just bought at 117p, when the offer price is currently 116p. Very keen.
Nice 10,000 share buy at 115p just now - a full 1p above the 114p offer price.
Bought this share a couple of months ago. My largest portfolio holding. Now 60% up. I think it has a great future. I am targeting 200p in next 1 or 2 years. Keep buying.
So long as it keeps ticking along nicely I'll keep quiet and keep holding ;-)
Yes, it is a nice quiet BB with some great research. A great company with excellent prospects. Let's hope it stays like this.