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SDI LIMITED — Earnings Release 2021
Jan 20, 2021
65759_rns_2021-01-20_63ff9141-bde8-46c8-af4a-af224c4fd58a.pdf
Earnings Release
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ASX Announcement
21 January 2021
Trading Update
MELBOURNE, Australia – SDI Limited (ASX: SDI) today announced that the unaudited profit after tax for the six months ending 31 December 2020 increased by 30.6% to $4.6 million compared to the corresponding period year last of $3.5 million.
In Australian Dollars, sales for the six months decreased by 8.0% to $36.8 million compared to $40.0 million for the same period last year. When adjusted for currency movements sales decreased by 3.9%.
| decreased by 3.9%. | |
|---|---|
| Market | Sales in local currencies |
| Increase /(Decrease) | |
| Australian Domestic | 43.2% |
| Australian direct exports(excl. intercompany) | (29.7%) |
| Brazil | 3.1% |
| Europe(excl. UK) | 12.6% |
| UK | (41.7%) |
| North America | 9.4% |
Assisted by pent up demand, most markets showed strong recovery from the COVID-19 pandemic, with product supply to many overseas markets continuing to be challenging due to sea and air shipping backlogs of product at ports of entry into SDI’s markets.
Gross product margins in Australian Dollars decreased by 1.3% to 64.9% compared to 66.2% for the corresponding period last year. When adjusted for currency movements, gross margin was in-line with last year.
Operating expenses in Australian Dollars decreased by 21.6% when compared to the previous corresponding six months. After adjusting for currency movements and government assistance programs, operating expenses decreased by 12.9%.
This announcement has been authorised by the Board of Directors of SDI Limited.
Investor Contact: Adrian Mulcahy [email protected] P: +61 438 630 422