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SDI Group
- BY: Andrew Hore |
- POSTED: 10/05/2010 |
SDI Group’s chief executive Gordon Smith is involved with a consortium that has offered 2.6p a share for the company.
SDI is a systems integrator for materials handling systems for distribution centres. Trading conditions have been difficult in the past two years according to the board and it is reviewing the options for the business. The board will report within one month.
The SDI share price fell 0.875p to 2.5p, which values the company at £2.73m. The all-time low was 1.5p a share, which was reached just over one year ago.
SDI reported revenues of £23.1m in the six months to September 2009 and it moved back into profit during the period. Net cash was £3.9m, which was helped by a reduction in working capital. The board says that cash resources are now constrained.
SDI joined Aim on 2 July 2007 via a placing at 49p a share.
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