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SDI Group PLC on Monday said it remains in a good position to continue with its buy and build strategy despite a drop in overall performance. The Cambridge, England-based company designs and manufactures scientific and technology products for digital imaging and sensing control applications. For the year ended April 30, the company expects an adjusted pretax profit of £8.0 million, down 32% from £11.8 million the year prior. SDI anticipates revenue of £65.9 million, down 2.5% from £67.6 million. At £13.2 million, net debt was maintained at the same levels as October 31 in the second half. This was despite £3.3 million of cash outflows following a period of acquisitions. In November, the company acquired Peak Sensors Holdings Ltd, a Chesterfield-based manufacturer of temperature sensors, for £2.4 million as part of its buy and build strategy. The company finished the year with gross debt at £14.6 million, leaving £10.3 million available within its credit facility alongside a further £5 million from an option with HSBC Holdings PLC. Chair Ken Ford said: ‘I am pleased to report that the group had a good finish to the financial year, with better trading performances at a number of SDI businesses. ‘The group’s cash generation from operations improved over the second half which leaves us well placed to continue our buy and build strategy,’ Ford said. SDI shares were up 13% to 72.00 pence each in London on Monday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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