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SDI LIMITED — Earnings Release 2014
Feb 18, 2014
65759_rns_2014-02-18_b2497298-d05c-4c93-a524-2b50e60ab7b8.pdf
Earnings Release
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December 2013 Profit Upgrade
SDI Limited today announced that it will achieve a net profit after tax of $2.7m (subject to Auditor’s review clearance) for the 6 months ending 31 December 2013, compared to $2.2m for the corresponding period last year. This result includes a once off net additional tax benefit of $0.2m.
Sales reported in Australian Dollars for the first 6 months of the 2013 financial year have increased by 12.4% when compared with the corresponding period last year. SDI exports approximately 90% of its products and in constant currency terms, sales showed no movement. In local currencies, North American sales decreased by 5.6%, Brazilian sales increased by 24.4%, and European sales decreased by 2.4% compared to the previous year. Australian sales, which includes Australian direct export sales, increased by 9.8%.
European sales were predominately affected by the poor performance of the French and Eastern European markets. All other European markets showed positive growth.
North American sales were disappointing and plans are being implemented to ensure that there is an improvement in the North American operations for the second six months.
If economic conditions remain stable including foreign currency rates, SDI estimates that it will achieve a net profit after tax for the 12 months ending 30 June 2014 of $5.2m to $6.0m, compared to $4.7m for the corresponding period last year.
It is expected that the full results (Appendix 4D) will be released on February 24, 2014.
For further information please contact:
INSOR Investor Relations
0418 106 675
19 February 2014
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