Last checked at 15 May 2019 07:00
Scientific Digital Imaging plc
("SDI", the "Company" or the "Group")
(AIM: SDI)
Trading Update
Scientific Digital Imaging plc, the AIM quoted group focused on the design and manufacture of scientific and technology products for use in digital imaging and sensing and control applications, is pleased to announce an update on trading for the year ended 30 April 2019.
The Group expects full year revenues to be in excess of £17.0 million; moderately ahead of expectations, with good momentum from the businesses already in the portfolio at the start of the financial year. The newly acquired businesses; Fistreem (September 2018), Thermal Exchange (February 2019), Graticules Optics (February 2019) and MPB Industries (April 2019), have delivered a contribution in line with our expectations.
Divisional gross margins remain in line with expectations. With some moderate additional investment made in the Group to support future growth, the Company expects to report adjusted* and reported profit before tax in line with current expectations.
The Company had net debt of less than £1.7 million (unaudited) at 30 April 2019.
Ken Ford, Chairman of SDI, commented:
"This has been a good year for SDI; growing the business and delivering on our acquisition strategy, whilst laying the foundation for further growth in the future."
The final results for the year ended 30 April 2019 will be released in July 2019.
* before amortisation of acquired intangibles, share based payments and acquisition and reorganisation costs
Enquiries
Scientific Digital Imaging plc 01223 320480
Ken Ford, Chairman
Mike Creedon, CEO
Jon Abell, CFO
www.scientificdigitalimaging.com
finnCap Ltd 020 7220 0500
Ed Frisby/Kate Bannatyne - Corporate Finance
Andrew Burdis/Sunila de Silva - ECM
JW Communications 07818 430877
Julia Wilson - Investor & Public Relations
About SDI:
Scientific Digital Imaging plc ("SDI") designs and manufactures scientific and technology products for use in digital imaging and sensing and control applications including life sciences, healthcare, astronomy, manufacturing, precision optics and art conservation. SDI operates through its company divisions: Atik Cameras, Synoptics, Graticules Optics, Sentek, Astles Control Systems Applied Thermal Control, MPB Industries and Fistreem.
SDI continues to grow by developing its own technology advancements and by improving its global distribution footprint, as well as through pursuing strategic, complementary acquisitions.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.