SDI Group PLC Trading Update (8461C)
October 22 2020 - 2:00AM
UK Regulatory
TIDMSDI
RNS Number : 8461C
SDI Group PLC
22 October 2020
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 control applications, is pleased to
announce an update on trading for the current financial year ending
30 April 2021.
As reported at the time of our recent AGM, the Group has made a
very good start to the new financial year. In particular, two of
our businesses, Atik Cameras and MPB Industries, secured
significant contracts to supply cameras and flowmeters,
respectively, for PCR DNA amplifiers and for respirators. Our other
businesses, which have all remained operational throughout the
COVID-19 pandemic, have seen customer order patterns showing a
return towards normality.
Given the very positive level of sales at Atik and MPB and the
cost savings effected in the other businesses, the Board now
believes that the Group is likely to achieve sales and profit
before tax broadly at the levels budgeted for this financial year
before the onset of the pandemic, and therefore above current
market expectations. The Board stresses that the incremental sales
at Atik and MPB are the result of one-time contracts related to the
COVID-19 pandemic and expects them to be completed well within the
current financial year. Consequently, the Board's view on the
Group's 2022 financial year is unchanged.
The Group expects to publish its interim results for the six
months to 31 October 2020 on 9 December.
Ken Ford, Chairman of SDI Group, said:
"The Board pays tribute to all of our staff who have worked to
keep their businesses profitable and cash generative during this
crisis and in particular notes the extraordinary efforts of staff
at Atik and MPB to increase production in aid of the global fight
against COVID-19.
"Our business model has proved resilient, and we expect to exit
the pandemic even stronger than when we entered it."
FOR FURTHER INFORMATION
SDI Group plc
Ken Ford, Chairman
Mike Creedon, Chief Executive Officer
Jon Abell, Chief Financial Officer 01223 727144
finnCap Ltd
Ed Frisby/Kate Bannatyne - Corporate Finance
Andrew Burdis/Sunila de Silva - ECM 020 7220 0500
JW Communications
Julia Wilson - Investor & Public Relations 07818 430 877
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 and Chell Instruments.
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.scientificdigitalimaging.com
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTGZMZGRMDGGZM
(END) Dow Jones Newswires
October 22, 2020 02:00 ET (06:00 GMT)
Sdi (LSE:SDI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sdi (LSE:SDI)
Historical Stock Chart
From Jul 2023 to Jul 2024