SDI first-half profit more than doubles

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Digital imagining and sensing technology group SDI said its first-half profit more than doubled and stuck to full-year guidance.

Pre-tax profit for the six months through October increased to £5.1 million, up from £2.4 million year-on-year, as revenue jumped 75% to £24.7 million.

SDI said it had seen a continued strong contribution from Atik cameras due to one-time COVID-19-related contracts, expected to complete by January.

There was a £4.6 million sales contribution from Monmouth Scientific and Uniform Engineering, acquired in the second half.

Organic sales growth in all other businesses averaged 22%.

The company did not declare an interim dividend. Net cash at 31 October 2021 was £1.1 million.

'We are pleased to report yet another strong set of financial results,' chairman Ken Ford said.

'SDI Group continues to execute on its business model, investing in quality businesses that are able to grow while generating cash.'

'We look forward to delivering a full-year performance in line with market expectations.'