- SDI (SDI) has released its half-yearly financial report, showing profits and earnings increased despite a slip in sales
- The manufacturer of dental supplies revealed sales dropped by 8 per cent over the six months to December, bringing in $36.8 million
- The decrease in sales is being blamed on COVID-19, which the business explains impacted its export numbers
- The healthcare stock’s net profit after tax (NPAT) performed better, increasing from $3.5 million to $4.6 million year on year
- SDI’s earnings before taxes, interest, depreciation and amoritisation (EBITDA) also grew by 21.8 per cent, to hit $8.7 million at the end of the first half
- Shares in SDI have ended the week trading at 80 cents each, up 2.56 per cent
SDI (SDI) has released its latest half-yearly financial report, showing profits and earnings increased despite a slip in sales.
The manufacturer of dental supplies has revealed sales dropped by 8 per cent to total $36.8 million at the end of December. In comparison, the company ended the previous corresponding period with $40 million in sales.
SDI is blaming the decrease in sales on the COVID-19 pandemic, which impacted its Australian and U.K. export numbers due to shipping contraints.
But, despite the sales drop, the healthcare stock still managed to increase its net profit after tax (NPAT) by 30.9 per cent to total $4.6 million at the end of the half-year – up from $3.5 million at the end of H1 FY20.
Additionally the dental manufacturer’s earnings before taxes, interest, depreciation and amoritisation (EBITDA) grew by 21.8 per cent, to hit $8.7 million at the end of December.
In terms of operating expenses, SDI reduced its cash burn by 12.9 per cent and ended H1 FY21 with $11.1 million in the bank and no debt.
“We knew this was always going to be a tough half, given the record result in comparable period, but despite this and the fact that we saw constraints on
shipping, key markets including the UK and direct exports materially affected, our performance was very good,” CEO Samantha Cheetham said.
Going forward, the business has stated it will continue to expand its whitening and aesthetic products, which made up almost 80 per cent of sales over the half year.
Shares in SDI have ended the week trading up 2.56 per cent at 80 cents each.