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SDI Group

  • BY: Andrew Hore |
  • POSTED: 04/07/2009 |

SDI Group is losing money but the disposal of the US business helped it to reduce these losses.

The systems integrator for materials handling systems for distribution centres reported a pre-exceptional loss of £495,000 in the 16 months to March 2009, which is nearly double the 12 months loss of £285,000. That excludes an £11m loss on discontinued US-based activities. Revenues were £53.1m, against £37.7m in the first 12 months of the period. Net cash was £5.82m at the end of March 2009.

The order book is worth £29m. The core market is non-food retail and this is not a sector that is keen to commit to capital expenditure even though cost savings are a potential side effect. 

At 6p a share, SDI is valued at £6.56m. The share price has trebled since the 12 month figures were announced and SDI is valued at a small premium to cash. The net tangible asset value is £6.4m.

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