Share Name Share Symbol Market Type Share ISIN Share Description
Sdi Group Plc LSE:SDI London Ordinary Share GB00B3FBWW43 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50 -0.78% 63.50 63.00 64.00 64.00 63.50 64.00 206,935 14:38:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 17.4 2.1 2.1 30.2 62

Sdi Share Discussion Threads

Showing 1826 to 1850 of 2175 messages
Chat Pages: Latest  75  74  73  72  71  70  69  68  67  66  65  64  Older
DateSubjectAuthorDiscuss
07/5/2019
19:49
Thoughts ahead of a trading update Promised some bridge analysis at the weekend, so thought I'd deliver on it. With SDI set provide a trading update over the next, say, 10 - 15 trading days, I thought it'd be handy to illustrate why I think we're set for an ahead of expectations statement. Maybe before any basic maths, what do we know? -> SDI, at the time of the Graticules acquisition, was trading comfortably in-line with expectations. I generally read that as 4-5% ahead. More importantly, it's clear that the company set up expectations for the year more on the conservative side; first half results were really really strong, but it sounds like they pretty much told Finncap to keep expectations unchanged. They cited potential for Brexit related turbulence, which naturally would have impacted Q4. Quite frankly, it looks near certain that was just conservative (managing the market as I'd call it) and that it hasn't happened - certainly most small cap companies (even JDG) haven't been impacted. So my strong take is that SDI entered into Q4, when they had lowballed expectations, already in a very comfortable position with regards to full year expectations. For perspective, they covered around 58% of full year EPS expectations at the time in H1 alone. Purely annualise that without taking into account the reality that they've bought stuff, and that would've put them comfortably on track for the year. Anyhow that's the narrative backdrop. Onto some maths. The below table shows what they did in H1, versus today's full year expectations. Important to note that they've made acquisitions since H1, which benefit H2, right the way down to EPS. This illustrates what I've just written. Even after acquisitions have been made, the implied second half forecasts appear modest, especially on adj. EBIT (where there is an implied sequential decline in EBIT), and on adj. EPS. That's not as clear as I'd like to show though. What makes what I'm saying about conservative H2 forecasts much clearer is a bridge which shows what the organic SDI business implied forecasts are. I.e. what the forecasts imply the underlying business is going to do, before you include any impact from acquisitions made. To create the bridge, you just need to take the implied second half forecasts, and subtract out the contributions assumed on both revenues and EBIT from each of the acquisitions. That gives you the underlying business for each. (P.S. let me know if you spot any numerical mistakes!!) Long story short, I calculate that Finncap's 2H forecasts actually imply the organic SDI business declines 9% in the second half of the year, compared to the first half, and even more starkly, that the second half organic EBIT is implicitly forecast to be 24% lower than the first half of the year. Which broadly makes sense; first half adj. EBIT was 1.494m, versus the FY forecast at the time of around 2.6m (i.e. implied second half of c. 1.1m, c. 25% below H1). This isn't the only reason I'm pretty convinced they'll be trading ahead of expectations, but it sets the scene where I think we can be looking forward to the trading update when it comes as this could suddenly be trading quite materially cheaper than it looks again. And quite frankly I’d expect the market to credit such a performance with a yet higher multiple. Looking forward to hearing about their tone when they present at Mello Eric
pireric
06/5/2019
06:29
POST REMOVED
buywell3
05/5/2019
14:18
Good luck with furniture sale🙂
rhomboid
05/5/2019
11:06
Looking to buy a position here next week once I've sold a set of furniture(!), and hopefully on a bit of a dip to 57.5. Screens very well
studentinvestor13
05/5/2019
06:26
POST REMOVED
buywell3
04/5/2019
18:42
The graphics make the point so well. Thx
alter ego
04/5/2019
17:12
Updated the header for an upcoming events list. Will post bridge calcs Wednesday* (edited) eve I think. Wanted to make a note of the following numbers more for my future reference more than anything; shows the level of run rate accretion SDI has garnered from its bigger acquisitions over the last couple of years. The average is c. 8%. I'd also note that the Graticules acquisition probably would have been low double digit accretive had it not been partly equity financed. But it's important to grasp IMO. If SDI can do, let's say another 2 acquisitions this calendar year, at the average of this range, that would add a further c. 15% to run rate EPS. I.e. if SDI can do nothing but just make those acquisitions, and it were to hold its valuation multiple, then one might reasonably expect 15% growth in the share price over that period. Bolt on 5-10% organic growth, and suddenly you have a stock that could reasonably compound 20 - 25% per annum. That's pretty much how JDG has also been such a stellar stock on a 10 year view, and it's pretty mechanical. Much easier to do when your EBIT base number is very small as well, which it is (present est c. £4m this year). Any improvements you can make to these businesses to improve their profitability, or sales reach, merely add on top to that annual return. FY20 EPS forecast change chart below. We've only just entered the year, but have already seen a >30% increase since the forecast was first introduced last July
pireric
03/5/2019
15:38
Look forward to that Eric.
hastings
03/5/2019
15:23
POST REMOVED
buywell3
03/5/2019
14:49
thx pireric, look fwd to it.
alter ego
03/5/2019
14:43
I'll try and create a bridge for H2 EPS when I get a moment either this weekend or mid next week to set out what we could expect. As I say, I'm very confident they'll be ahead of expectations... And doesn't take a genius to come to that conclusion... As I'll hopefully present. Actually comes down to how far ahead they are
pireric
03/5/2019
14:14
Much App GHF
petewy
03/5/2019
12:19
Also a big thanks to GHF. I would hazard a guess we are looking mid to the end of the month going by that and what I previously learnt. Either way, nobody needs to be concerned imo, it'll come when it comes and I'm sure most of us are happy with that.
hastings
03/5/2019
11:40
Appreciated, thx GHF! I'm personally expecting a beat of expectations and so for that to be the next catalyst. They did 1.38p adjusted diluted EPS in H1 and the FY forecast is 2.50p, and they've made acquisitions in the second half which mildly help the H2 figure. Plus Finncap explicitly said their forecast baked in Brexit disruption towards the end of the year, which is unlikely to have materialised. So the base forecast looks conservative to me. So I'm pretty confident we'll be looking at an ahead of expectations statement before too long, and possibly as much as 10%-12% ahead if Q4 was strong 2 cents while we wait ;0) Eric
pireric
03/5/2019
11:25
Afternoon guys, I had a call with both the CEO & FD yesterday. SDI are of course in a close period following their year end which occurred only a few days ago. As I understand, there is no rush to release a trading update, especially following 4 x acquisitions that occurred between Jan-April 2019 & the accountancy work required in light of this. Hope to meet a few SDI holders at Mello2019. Believe that Mike Creedon, CEO will be attending & presenting on Thursday PM (16th May). Hope that assists everyone...especially those eagerly watching the 7am RNS feed :-) Kind regards, GHF
glasshalfull
03/5/2019
11:12
O/T Hi Garbet I’m at the AIEA AGM next week...are you attending? Like the look of your portfolio..v high Quality 🙂
rhomboid
03/5/2019
06:38
Cheers rhomboid it'll be good to catch up, you too Garbet.
hastings
03/5/2019
06:00
POST REMOVED
buywell3
02/5/2019
21:13
And I'm going to be at Mello - maybe worth getting together for a quick chat? My top 10 positions, which I believe overlap a bit with some people : ABDP, SDI, BVXP, AIEA, NMRP, SOLI, DTG, IGR, LTHM, JDG. Andy
garbetklb
02/5/2019
19:07
I’ll be there too Martin...happy to buy you a beverage for all your excellent work over the years covering SDI👍
rhomboid
02/5/2019
18:11
I'll be attending Mello myself Eric, so along with others I'll also add what I can.
hastings
02/5/2019
17:20
POST REMOVED
buywell3
02/5/2019
16:32
Pure guess, but I'd imagine next week or early the week after. Then as Hastings has alluded elsewhere, they'll be presenting at Mello on May 16th which should help spread the story. Know a number of private investors are attending so should get some feedback
pireric
02/5/2019
14:35
Trading update tomorrow ? Was on a Friday last year I think
ronwilkes123
02/5/2019
11:35
There's now 3 separate threads going here, so I thought I'd bring this best one back to the top!
rivaldo
Chat Pages: Latest  75  74  73  72  71  70  69  68  67  66  65  64  Older
Your Recent History
LSE
SDI
Sdi
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20191118 16:15:16