17th Dec 2019 11:16
(Alliance News) - Medical technology firm SDI Group PLC on Tuesday reported a double digit rise in profit and revenue for the first half of its financial year, due to strong performances from its sensors and control businesses.
For the six months to the end of October, pretax profit rose by 27% to GBP1.5 million from GBP1.2 million the year before, on revenue that increased by 42% to GBP11.5 million from GBP8.1 million.
Of this revenue growth, 6.4% was on an organic basis while 36% came from acquisitions.
SDI's stronger performance was mainly driven by a 58% rise in turnover to GBP5.8 million from its sensors and control units, with Sentek, Astles and Applied Thermal Control reporting double digit increases.
In addition, the Digital Imaging segment rose by 29% to GBP5.6 million, with continued growth from Atik and a contribution from recent acquisition Graticules Optics.
"The group has made a good start to the financial year. Despite the potential for economic variability, influenced by political conditions and currency fluctuations, the board is confident that our diversified portfolio of businesses is on course to deliver a full year financial performance in line with market expectations," said Chair Ken Ford.
Shares in SDI Group - which is headquartered in Cambridge - were up 1.4% at 74.0 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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