Last checked at 10 Feb 2021 07:00
SDI Group plc
("SDI", the "Company" or the "Group")
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 and control applications, is pleased to announce an update on trading.
As reported in our interim results to 31 October 2020, while most of our businesses have seen revenues negatively impacted by the COVID-19 pandemic, two of our businesses secured significant one-time contracts for equipment relating respectively to the treatment and testing of COVID-19 and of similar respiratory and viral diseases.
We are very pleased to report that our Atik Cameras business unit has secured follow-on camera orders from an OEM manufacturer of real time PCR DNA amplifiers with delivery centered on our year to 30 April 2022. This is a significant endorsement of the Atik Camera design and production capability, recognising its expertise in imaging solutions for life sciences.
While timing of delivery for the orders in hand is still to be finalised, and there is no guarantee that further orders will follow, the Board believes that the Group, as a whole, will exceed the market's sales and profit expectations for the year ending 30 April 2021 and substantially exceed the market's sales and profit expectations for the year ending 30 April 2022. This is also underpinned by the continued recovery of activity across all of its businesses.
The Board currently expects that Revenue and Adjusted* Profit Before Tax in 2021 and 2022 will exceed:
£000's | Year to 30 April 2020 (Audited) | Year to 30 April 2021 | Year to 30 April 2022 |
Revenue | 24,498 | 34,000 | 42,000 |
Adjusted Profit Before Tax | 4,348 | 6,700 | 8,700 |
Ken Ford, Chairman of SDI, commented: "These are exceptional prospective outcomes in unprecedented times, during which the staff across SDI have executed on all aspects of our buy-and-build business model."
* before amortisation of acquired intangible assets, reorganisation costs, acquisition costs and share-based payments
Enquiries
SDI Group plc Ken Ford, Chairman Mike Creedon, CEO Jon Abell, CFO www.thesdigroup.net | 01223 727144 |
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finnCap Ltd Ed Frisby/Kate Bannatyne - Corporate Finance Andrew Burdis/Sunila de Silva - ECM | 020 7220 0500 |
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JW Communications Julia Wilson - Investor & Public Relations | 07818 430 877
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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, 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, Chell Instruments and Monmouth Scientific.
SDI continues to grow by developing its own technology advancements and by improving its global sales channels, as well as through pursuing strategic, complementary acquisitions. www.thesdigroup.net
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.