18th Jul 2019 10:22
(Alliance News) - Scientific Digital Imaging PLC on Thursday expressed confident outlook for the year ahead following double-digit growth reported in its financial 2019.
The scientific products manufacturer said pretax profit for the year to the end of April increased by 24% to GBP2.1 million from GBP1.7 million a year prior, as revenue rose by 20% to GBP17.4 million from GBP14.5 million.
This performance has been achieved through 5% organic growth, Scientific Digital said, demonstrating continued commercial demand for the niche technologies produced within the company.
Revenue growth was also boosted by the acquisition of Fistreem International, Ionscope and Graticules Optics into the Digital Imaging division in financial 2019.
Meanwhile, demand for products from the Atik brands remains robust across all global markets, Scientific Digital said, and Atik is now the company's largest division.
Despite strong performance, the company said it has decided not to pay a dividend, unchanged from the prior year.
"The board is confident that the group will continue to deliver profitable growth through increased revenue and new acquisitions in 2019-20, and is encouraged by the performance of the business in the new financial year," said Chair Ken Ford.
Scientific Digital shares were trading 8.4% lower on Thursday in London at pence each.
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