Published on: July 20, 2021
Strong FY21 Performance
In our view, SDI Group has delivered an impressive performance in FY21, benefiting from the diversity of its products and end markets. Two product lines are benefitting from significant one-off COVID-19 related contracts in contrast to weaker demand due to the pandemic in some of its other end markets. This has significantly boosted sales and profitability which we expect to continue into FY22E. Growth has also been enhanced by the acquisition of Monmouth Scientific. Strong cash generation and balance sheet strength underpin its acquisition strategy.