Scientific Digital Imaging prospects positive after interim results

Scientific Digital Imaging was in expansion mode this week, after reporting positive interim results and the successful purchase of an electrode manufacturer.

The AIM quoted scientific and technology group released its unaudited interim results for the period ended 31 October 2015 on Friday.

Revenue increased by 15% over the corresponding period the previous year, by 15% to £3.671m.
Adjusted operating profit was £189,000, up from a £20,000 loss in 2014, and gross margin increased from 57.6% to 58%.

The end of the period was marked by the acquisition of electrode maker Sentek on 28 October for £2m, primarily funded by existing cash resources and a debt facility.

Scientific Digital Imaging said the majority of the debt was repaid after the period, with the raising of £2.5m in equity.

"The board anticipated the recent acquisition of Sentek will be earnings-enhancing in the first full year of ownership", said Dcientific Digital Imaging chairman Ken Ford.

"(We) expect the company to continue to make good progress over the remainder of the financial year as we continue to pursue our strategy of organic and acquisitive growth", he added.

Scientific and Digital Imaging reported that both its basic and fully diluted earnings per share were 0.04p, up from a loss in 2014 of 0.82p.