Ishs $ Sd Corp Share News (SDIG)

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100.68 0.00 (0.00%)

Bid:

100.73

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100.82

Spread: 0.09 (0.089%)

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Slimmed down SDI optimistic

Mon, 29th Jun 2009 14:07

Automated warehousing systems firm SDI is feeling optimistic on the back of an increasing number of contract wins, despite tumbling into the red.The company made a loss before tax and exceptional items of £0.5m in the 16 months to 31 March 2009, compared to a profit before tax of £1.06m in 2007. After exceptional charges the pre-tax loss widened to £1.58m.The company made a loss of £11m on discontinued activities.Revenue in the 16 month period was £53.15m, versus £14.93m in 2007.The company has a confirmed order book of £29m and a pipeline of potential orders for the current year of £21m."The acquisition of PEP, the disposal of the loss-making US business and the reduction of costs to increase efficiency means we have a solid platform from which to grow the business further. Whilst trading conditions remain uncertain, a strong new business pipeline and an increasing number of contract wins allow us to look to the future with optimism," said Mark McMenemy, chairman of SDI Group.