8th Jan 2016 08:33
LONDON (Alliance News) - Scientific Digital Imaging PLC Friday reported a swing to a small pretax profit for its first half, and said it expects its recent acquisition of Sentek Ltd will add to earnings in its first full year of ownership.
For the half year to end-October the company reported a pretax profit of GBP13,000, swung from a pretax loss of GBP227,000, as revenue rose to GBP3.7 million from GBP3.2 million. Revenue growth was bolstered by growth in the company's Synoptics and Atik brands over the period.
The company bought Sentek for GBP2.0 million in October, which meant it had a very limited effect on the company's first half. Following the half year end the Scientific Digital Imaging raised GBP2.5 million to repay debt from acquiring Sentek, with the balance to be reinvested into the business.
Following this acquisition, Scientific Digital Imaging said it is actively seeking further profitable scientific and technology based companies to continue its buy and build strategy.
The company said it continues to make good progress over the remainder of the year as it continues its strategy of organic and acquisitive growth.
Shares in Scientific Digital Imaging were up 8.7% at 12.50 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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