SDI’s H1 25 results, released this morning, highlight solid progress against its strategy refresh, outlined at the full-year results in July. This has included the value-enhancing acquisition of InspecVision for £6.1m. We note the improving margin from the underlying portfolio and significantly increased cash generation, with £4.7m of cash from operations in H1 25 (vs £3.3m in H1 24). Management notes an improving order book and good momentum going into the second half. We therefore maintain our estimates for the full year and introduce FY26 forecasts.
SDI Group: Progressive
Dec 5, 2024Disclaimer & Declaration of Interest
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