SDI Group (LSE: SDI) banks on capex, acquisitions for higher revenue in FY24

2 min read | August 19, 2023 12:47 AM AEST | By Team Kalkine

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SDI Group (LSE: SDI) banks on capex, acquisitions for higher revenue in FY24 — Image source: © Ipopba | Megapixl.com

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Highlights

SDI Group PLC (LSE:SDI) achieved 36% year-on-year growth in FY23

As of 30 April 2023, SDI Group net debt or bank debt less cash was recorded at £13.30 million.

SDI is aiming to achieve sustainable profits and cashflows in the fiscal year 2024.

FTSE AIM All-Share index listed SDI Group PLC (LSE:SDI) is involved in designing and producing scientific and technology products for applications in digital imaging and sensing and control sector.

In fiscal year 2023, the company achieved 36% year-on-year growth in revenue from GBP 49.70 million to GBP 67.60 million in FY23. This was a result of a significant contribution from the recently acquired businesses, including Fraser Anti-Static Techniques (acquired in October 2022), LTE Scientific (acquired in July 2022), Safelab Systems (acquired in March 2022) and Scientific Vacuum Systems (January 2022).

However, cash generated from operations saw a 25.9% YoY decline from GBP 14.70 million in FY22 to GBP 10.90 million in FY23. The reported operating profit went down 33.3% from GBP 10.20 million in FY22 to GBP 6.80 million during the reporting period.

As of 30 April 2023, SDI Group net debt or bank debt less cash was recorded at £13.30 million.

FY24 Revenue Guidance
Following the company’s buy and build strategy, SDI will make further investments in its ongoing businesses as well as on potential acquisition of complementary businesses in the fiscal year 2024. The company is anticipating its full year revenue for FY24 to be higher as compared to FY23. SDI is aiming to achieve sustainable profits and cashflows in the fiscal year 2024.

Top 10 shareholders

Around 55.01% of the total shareholdings of the group are held by its top ten shareholders. While Berenberg Bank (Asset Management) holds the maximum number of shares with 9.28% shareholding, Danske Bank Asset Management owns over 7.9% shareholding in the group.

Stock Price Performance

The company’s stock price has decreased by over 11.17% in the last one month, while it has fallen by approximately 40.85% in the last six months. The stock’s 52-week low and 52-week high price stands at GBX 107.00 and GBX 204.00, respectively.

Please note markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 16 August 2023. The reference data in this report has been partly sourced from EODHD/Others.

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