Last checked at 7 Apr 2009 07:00
7 April 2009
SCIENTIFIC DIGITAL IMAGING PLC
("SDI" or "the Company")
Trading Update
The Board of Scientific Digital Imaging plc ("SDI" or "the Company"), the digital imaging company, is pleased to provide an update on trading ahead of its financial year-end of 30 April 2009.
The Board is delighted to report that performance has remained solid during the second half of the financial year and has recently strengthened to the point that both revenue and profit for the full year are likely to exceed market expectations. The businesses of the Group operate with short order backlogs which give rise to uncertainty, although it now seems likely that over the full year revenue and trading profits will be ahead.
Performance of the Company's primary subsidiary, Synoptics, remained good with particular progress in the United States. The amateur astronomy market served by the Artemis and Perseu subsidiaries, however, appears to have suffered more from the economic downturn as the result of a decrease in consumer discretionary spending.
The devaluation of Sterling has had a positive impact on the Company's results during the year; however foreign exchange movements are unlikely to have a significant impact on the Group's performance in the coming year.
Despite these encouraging results, the Board remains cautious about the immediate future due to the uncertain economic climate. Whilst the Board attempts to take every available precaution, there remains a possibility that research and science spending could decrease or adverse currency rate fluctuations could have a negative effect.
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FOR FURTHER INFORMATION
Scientific Digital Imaging plc 01223 727144
Harry Tee CBE, Chairman
Phil Atkin, CEO
www.scientificdigitalimaging.com
Grant Thornton 020 7383 5100
UK LLP
Philip Secrett
Colin Aaronson
Dowgate Capital Stockbrokers 01293 517744
Neil Badger
Bishopsgate Communications 020 7562 3350
Maxine BarnesWill Tindall
sdi@bishopsgatecommunications.com