28th Jul 2015 09:59
LONDON (Alliance News) - Healthcare technology company Scientific Digital Imaging PLC posted a swing to a profit in its recently ended financial year, as a result of improved gross margins.
For the year to end-April, Scientific Digital Imaging posted a pretax profit of GBP23,000, swung from a pretax loss of GBP38,000 a year before, as revenue was flat at GBP7.0 million. Gross margins increased to 59.1% from 57.1%.
During the year the company incurred GBP200,000 in costs related to restructuring and reorganisation. The company said it had invested in a change in the commercial strategy of its Synoptics business, by reorganising the management structure to improve profitability, bringing in a new team to run the company.
In its current financial year, Scientific Digital Imaging said it expects continued organic and acquisitive growth and cited growing interest in its products in the North American microbiology and antibiotic testing sectors.
"The company has delivered profits in a challenging year when significant restructuring took place and investment has been made to ensure new products continue to meet our customers' current and future needs. The board is confident that SDI is now in a strong position for continued successful organic growth together with the potential for the acquisition of new companies," said Chairman Ken Ford in a statement.
Shares in Scientific Digital Imaging were up 4.4% at 12.00 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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