Last checked at 29 Sep 2023 07:00
SDI Group plc
("SDI", the "Company", or the "Group")
AGM Trading Update
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.
Based on trading in the financial year to date together with the outlook for the remainder of FY24, the Board expects that the results for the full year will be delivered in line with market expectations1.
Stephen Brown joined the Group as Chief Operating Officer on 28 September, and he will be appointed to the Board today following completion of the annual general meeting.
The Company also announces that its Nominated Adviser and Broker, finnCap Ltd, has now changed its name to Cavendish Capital Markets Limited following completion of its own corporate merger.
1Analysts from our Broker Cavendish Capital Markets Limited and from Progressive Equity Research regularly provide research on the Company, and the Group considers the average of their forecasts to represent market expectations for FY24 being Sales of £71m and Adjusted2 Profit Before Tax of £9.8m.
2Before acquisition costs, amortisation of acquired intangibles and share based payments.
Enquiries
SDI Group plc 01223 727144
Ken Ford, Chairman
Mike Creedon, CEO
Ami Sharma, CFO
www.sdigroup.com
Cavendish Capital Markets Limited 020 7220 0500
Ed Frisby/Seamus Fricker - Corporate Finance
Andrew Burdis/Sunila de Silva - ECM
About SDI Group plc:
SDI designs and manufactures scientific and technology products for use in digital imaging and sensing and control applications including life sciences, healthcare, astronomy, plastics and packaging, manufacturing, precision optics, measurement instrumentation and art conservation. SDI operates through its subsidiaries: Atik Cameras, Synoptics, Graticules Optics, Sentek, Astles Control Systems, Applied Thermal Control, MPB Industries, Chell Instruments, Monmouth Scientific, Uniform Engineering, Scientific Vacuum Systems, Safelab Systems, LTE Scientific and Fraser Anti-Static Techniques.
Corporate expansion is via organic growth within its subsidiary companies and through the acquisition of complementary, niche technology businesses with established reputations in global markets.