SDI has issued a trading update for the year ending 30 April. Whilst revenues are expected to be c.£69m, up 39% on FY 2022 and some £2.5m or 4% higher than our forecast, higher investment into sales & marketing pegs back adjusted PBT to around £11.8m (no change to FC £11.9m est). Product mix changes in FY 2024 (lower higher-margin Atik sales, offset by higher lower-margin new business sales), coupled with sustained investment in opex will impact our forecasts for FY 2024. We leave revenues uncha ....
