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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
  -1.50 -2.83% 51.50 51.00 52.00 53.00 51.50 53.00 217,949 10:16:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 17.4 2.1 2.1 24.5 50

Sdi Share Discussion Threads

Showing 2101 to 2121 of 2475 messages
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DateSubjectAuthorDiscuss
16/10/2019
14:32
Yes some, of the 3 companies presenting Mike kicked off 1st and had to leave straight after so my plan to ply him with wine and extract amazing revelations fell at the 1st hurdle :-) Barged onto his table for 10 mins beforehand though so had a brief shared chat. He'd traveled up via Leicestershire and was handling the move of Thermal Exchange & Applied Thermal Control into new premises in Barrow upon Soar from Leicester & Coalville. This should now happen in November rather than October as previously planned. Random thoughts through presentation/Q&A Atik Sales Director Jason Evans tasked with securing new OEM customer 2 new technical sales staff at Sentek Restructuring of pay grades upwards at Graticules has re-motivated workforce. Previously very poorly paid with minimal differentials between skilled & un-skilled staff. Not expensive to achieve. Peter Astles helping MC part time (3 day week) on due diligence. Acquisition sweet spot £500k - £1m EBIT, recent smaller acquisitions carried out as Thermal Control/ATC could be combined, Fistreen & Ionscope moved into Synoptics. Not sure on rationale for MPB as that also below the £500k threshold. Sensed Mike becoming more growth orientated in acquisition target selection, seems to have been influenced by city & investor calls for higher organic growth. Acquisition leads from various sources including the ex Judges barrister, some PE contacts who are primarily interested in larger co's for themselves and recommendations from acquired businesses (which has led to the synergies) Net Debt coming down from the year end £1.6m and I wouldn't be surprised to wake up to an 7am acquisition RNS though no real hints from Mike in that direction (as you'd expect).
cockerhoop
15/10/2019
21:52
Good spot on that one; thanks
pireric
15/10/2019
15:06
Will ask as many as possible, hopefully he'll be hanging around after the presentation. Regards Acq criteria in the AR they state: High Quality Business, est reputations, customer loyalty in global markets Typically Niche sml/med company with rev sci/tech/medical products Profitable Growth potential, partic internationally Either stand alone or bolt on Motivated management teams in place Available at a reasonable price.
cockerhoop
15/10/2019
14:36
Not concerned by it at all but interested to here their response and view on how they stave off adverse selection when it comes to acquisitions? What proportion and number of deals are they turning down? How strong is the pipe? What would be their top 3 criteria they look for in an acquisition? Then separately, currently they're focusing on digital imaging and sensors and controls. Are there any other niches or areas they would like to build out capability in/around? Thanks
pireric
15/10/2019
14:30
Off to see Mike this evening in Manchester? Any Questions?
cockerhoop
13/10/2019
17:07
Running some numbers, looks like this previously peaked at c. 18.1x next twelve months earnings in August 2018. Peak this year closer to 17.5x. Trough in January 2019 was 12.7x. Currently at 13.4x. What do each of those other levels imply? 12.7x = 47.9p 17.5x = 66.0p 19.1x = 68.2p By comparison, JDG's pretty crazy trough in December last year was a multiple of 14.1x, currently re-rated massively to 21.5x and am sure there's an element of earnings forecasts there being too low still etc. Hopefully adds a bit of colour just where we're trading on a market sentiment basis
pireric
11/10/2019
07:49
Agreed, Synoptics back then accounted for some 75% of turnover and was at best break even.In much better health these days, turned around and profitable with some excellent tech products.All in all they've done a great job across the board, particularly as they have achieved this after the failed reverse back in 2013.
hastings
09/10/2019
20:25
The rise in shares in issue was due to original business Synoptics not being profitable or cash generative imo. To grow by acquisition they needed to either issue shares or borrow.They're in much better shape now as they've skilfully bought cash generative companies allowing them to self fund acquisitions to a much greater extent.
cockerhoop
09/10/2019
20:03
Side note: Mike not deciding to sell shares at this juncture upon exercising his options "Scientific Digital Imaging plc, the AIM quoted group focused on the design and manufacture of scientific and technology products for use in digital imaging and sensing and control applications, announces the exercise of share options by Mike Creedon, Chief Executive Officer of the Company over 130,528 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") (the "Exercise"). 120,000 of the share options have an exercise price of 21.5 pence and 10,528 of the share options have an exercise price of 20.5 pence. Following the Exercise, Mike Creedon has a total beneficial holding of 442,452 Ordinary Shares representing 0.455 per cent. of the issued share capital of the Company. "
pireric
09/10/2019
19:44
The increase in shares was necessary because the company was coming from a very low market cap, and so taking on leverage at those levels to make the acquisitions probably would not have been available or have made sense. So the other alternative would have been to not do the acquisitions at all But think the share price chart speaks for itself in showing that the acquisitions have clearly been value enhancing. I'm therefore not all that bothered by it as this has outperformed the vast majority of stocks over the past few yrs
pireric
09/10/2019
06:41
Afer looking a bit more at the company, I realized that the number of shares is significantly increasing over the years which dilutes the value for the shareholders. Do you know if this points was adressed during the AGM?
elglanto
08/10/2019
14:18
We have a growth company seminar on the 15th October in Manchester with Scientific Digital Imaging lined up to present. This may be of interest to potential investors or current shareholders. More details and registration can be found here: hTTps://www.sharesoc.org/events/sharesoc-growth-company-seminar-in-manchester-15-october-2019/
sharesoc
01/10/2019
21:24
Very many thanks for the write ups - incredibly helpful. We remain very happy holders.
garbetklb
01/10/2019
20:28
We have a growth company seminar on the 15th October in Manchester with Scientific Digital Imaging lined up to present. This may be of interest to potential investors or current shareholders. More details and registration can be found here: hTTps://www.sharesoc.org/events/sharesoc-growth-company-seminar-in-manchester-15-october-2019/
sharesoc
30/9/2019
09:37
Many thanks from me as for Rhomboid and Martin's write ups.
glaws2
28/9/2019
19:54
Great stuff Martin & John - I'll be seeing Mike in Manchester on the 15th Oct so if you have any follow up questions from the AGM let me know.
cockerhoop
28/9/2019
11:52
Fantastic detailed post Martin...many thanks...it’s reminded me why you write a newspaper column & I don’t!
rhomboid
28/9/2019
09:55
Much appreciated hastings. Very useful feedback.
alter ego
28/9/2019
09:30
Thanks again to Rhomboid for his notes and hopefully my comments below tie in but also offer a little in addition. So, a really good and positive AGM last Wednesday, which saw six of us retail investors attending. As is often the case the usual business moved along quite quickly, which was followed by Chairman Ken Ford opening up the floor for questions. Present were Ken, CEO Mike Creedon CFO Jon Abell along with non Exec's Isabel Napper and David Tilston. Various questions were asked from the floor, the first of which saw Ken Ford confirming that trading had started well and all the divisions were profitable. Mike then added after being asked a question on individual arms of the group that the star performers had continued to be ATIK and Sentek. We were also then introduced to Jason Evans at ATIK who had joined the company very recently, the reasoning behind this being that the growth and demand were clearly there and it was the right time to bring in further support within this arm. Expanding, Mike said the expansion at Lisbon was almost complete and that the ATIK business had gone from strength to strength. Jumping ahead, I caught up with Jason Evans afterwards and he confirmed that he now had a busy schedule with trips abroad lined up including Asia and he appeared very upbeat and enthusiastic on his new role and the ATIK business. Speaking after the formal business, one shareholder asked as to whether there had been any interest/approach for ATIK or any other part of the business and it was confirmed there had been tentative interest, but nothing that the board would entertain. Obviously, if a realistic offer came through for something that would be beneficial to shareholders, then the board would obviously consider it. But, they would not let anything go if the price didn't meet their valuation. Another attendee asked about how different arms of the group were managed, to which Mike explained that existing management teams remained in place and were in contact with other parts of the group and their respective management to explore or drive synergies which were producing positive results. Mike also visits different businesses across the group on a weekly basis and all representatives from these divisions meet up regularly, so there is plenty of continuity. Further acquisitions continue to be firmly on the agenda, but SDI remains very selective and will not buy for the sake of it. That said, there a plenty of opportunities and Ken reiterated that there is no reason why it can't go on to be a £100m/£300m plus business over time. Pro-reveal ( I asked the question ) remains a slow burner and Ken was keen to point out that it is very small in the bigger picture. Mike did confirm that they have now sold into about 25% of the potential UK market but they don't spend anything on it, its there as part of Synoptics but faces the same NHS issues as it has since its launch, that being lack of money! Asked whether they would continue to go for acquisitions of a similar size or plump for something much bigger, both Ken and Mike said they would stick to their successful strategy in terms of criteria and were very wary of taking on anything larger. It was added that there are plenty of opportunities out there at the smaller end and they are now seeing people come to them as opposed to having to seek and identify. Worth mentioning too that non exec David Tilston was on the board at Sepura before it embarked on its fateful big Spanish acquisition which led to its demise, so I suspect that he would be of the same opinion and can provide some sound advice to complement the other board members. There are also lots of opportunities going forward across the group though and they sounded confident of prospects ahead and importantly where they are at now. The founder of Astles control systems was also present and I was fortunate to have a really good chat with him afterwards where he confirmed the business there was trading well. This division is involved in chemical dosing and control systems for beverage cans and the automotive industry. Very niche and global they enjoy an increasingly diverse client base although do continue to have a number of major customers. Interestingly, since one important customer was acquired by a competitor in 2017 which could have been potentially problematic it has actually proved a positive, with new business being won from the acquirer in a number of locations. He also pointed out to me that the move away from plastics was now benefiting the beverage canning space which is already forecast to continue growing year on year. Mike also mentioned that Fistreem's relocation to Cambridge will be complete in a few weeks and that is clearly a positive for the business going forward which will also save on costs. All in all we were there for a good couple of hours and the atmosphere was certainly a positive one with all members of the board very open and engaging and other holders expressing satisfaction. The interim results are due out in December and we will know more then, but for now the business is going well as expected and despite the Brexit issues it was reiterated once more that SDI's only possible concerns on this would be of any delays in moving of goods, which as I have said before would hit most businesses in some way. Personally, very happy to hold and it continues to be a great journey for me which started a good few years ago now.
hastings
27/9/2019
16:44
Many thx rhomboid. Very informative.
alter ego
27/9/2019
16:29
Many thanks Rhomboid, excellent summary. I will add something myself tomorrow which will hopefully tie in with your observations.
hastings
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