Australia's SDI tumbles as logistic costs seen hitting half-year profit

SDI

11/01/2022 01:39

** Shares of SDI Ltd  SDI.AX  fall 13.6% to A$0.89, marking
their biggest intraday pct drop since April 2, 2020 
    ** The producer of dental restoratives sees HY net profit
after tax in a range of A$2.5 mln and A$3 mln ($1.79 mln-$2.15
mln), compared with A$4.6 mln a year earlier  urn:newsml:reuters.com:*:nASX6N80CJ
    ** Says expected lower profit due to elevated logistics
costs that have impacted the gross product margins by 7%
    ** However, SDI sees a 26% jump in sales to A$46.2 mln on
strong demand
    ** Stock hits its lowest level since Oct. 7
    ** About 233,000 shares change hands, compared with the
30-day average volume of 26,000 shares
    ** SDI up about 1.5% so far this year

($1 = 1.3930 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))