SDI Group (LON: SDI) said in its trading update on Wednesday that despite the negative impact of Covid-19, two of its businesses have secured “significant” one-time contracts for equipment relating to the treatment and testing of COVID-19 and of similar respiratory and viral diseases.
The manufacturer of scientific and technology products also revealed that most of its businesses have seen revenues take a hit from the coronavirus pandemic (reported in its interim results to October 31 2020).
“We are very pleased to report that our Atik Cameras business unit has secured follow-on camera orders from an OEM manufacturer of real time PCR DNA amplifiers with delivery centered on our year to April 30 2022,” SDI said.
“This is a significant endorsement of the Atik Camera design and production capability, recognising its expertise in imaging solutions for life sciences,” added the UK-based firm.
As a result, the company believes it will exceed the market’s sales and profit expectations for the year ending April 30, 2021, and “substantially” exceed expectations for the year ending April 30 2022.
SDI is now expecting revenue for the year ending April 30, 2021, to be £34 million with an adjusted pre-tax profit of £6.7million while it expects 2022 revenue to be £42 million with a pre-tax profit of £8.7 million.
“These are exceptional prospective outcomes in unprecedented times, during which the staff across SDI have executed on all aspects of our buy-and-build business model,” said Ken Ford, Chairman of SDI.
The company’s stock price is currently trading 27% higher at 153p per share in London.
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