SDI has announced a satisfactory year-end trading update signalling trading is in-line with expectations having experienced strong trading in 2H, despite macro challenges. Operating margins were better than expected, helped by mix. Order intake remains strong giving the group a robust position for FY27, with recent acquisitions performing well. We adjust our forecast for a slightly lower revenue, offset by a stronger margin with adj PBT and adj EPS unchanged. We factor in slightly higher net deb ....