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Scientific Digital Imaging doubles profits on improved margins
Technology firm Scientific Digital Imaging increased revenue by a third in the half-year to 31 October, as organic growth and acquisitions boosted profits.
Revenues increased 34% to £6.55m thanks to organic revenue growth delivered by its Sentek and Atik Cameras businesses and the leg-up provided by its recent acquisitions of Astles Control Systems and Applied Thermal Control.
SDI, which designs and manufactures scientific and technology products for use in applications including life sciences, healthcare, astronomy, consumer manufacturing and art conservation, increased its gross margin to 67% from the 63.6% seen twelve months earlier, helping the group send pre-tax profits soaring 106% to £846,000.
Basic earnings per share rose 53% to 0.98p.
Ken Ford, chairman of SDI, said, "The first half of the financial year has seen the group report substantial growth and we are pleased that trading in the current second half continues in line with management expectations. We have been pleased with the performance of Applied Thermal Control which was acquired in August 2017. The acquisition was another exciting step in the group's growth strategy and the group looks forward with confidence."
As of 1200 GMT, shares had jumped 16.47% to 30.28p.