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Published on: May 6, 2022

Record year expected

SDI Group has published a trading update for the year ended 30 April 2022. Revenue for the full year is ahead of our, and market, expectations, with management now expecting £49.0m for FY22, up 40% on FY21 (£35.1m) and £2.1m ahead of our forecast. The update also states that adjusted PBT is expected to be in excess of £10.5m (FY21: £7.4m), ahead of our forecast of £9.8m. This statement, alongside recent acquisitions, shows management’s ability to deliver record results despite the intermittent Covid recovery and inflationary supply chain pressures. We have adjusted our FY22 and FY23 figures to reflect this good news, and look forward to the final results in July as an opportunity revisit our FY23 estimates and introduce FY24 forecasts.

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