SDI Group Reports FY10 Loss Of GBP18.8M

LONDON (Dow Jones)--SDI Group PLC (SDIG.LN), which designs, builds and supports integrated materials handling solutions, reported Friday a pretax loss of GBP18.8 million for fiscal 2010 and said its full year results have not been in line with its original expectations and there is a limited likelihood of a dividend in the medium term. MAIN FACTS: -Revenue for the year ended March 31 GBP32.1 million -Loss before tax pre-exceptional items GBP1.1 million -Diluted loss per share 0.17 pence (2009:0.11 pence) -The exceptional loss of GBP17.6 million is largely due to a write down in the carrying value of goodwill, but also from a default on payments on a completed project and some non-recurring issues. -Cash and cash equivalents at period end GBP2.5 million (2009: GBP5.8 million) -Shares on Thursday closed at 2 pence, valuing the company at GBP2.2 million. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com (END) Dow Jones Newswires July 16, 2010 02:45 ET (06:45 GMT)