SDI (ASX:SDI) reported preliminary unaudited total sales of AU$111 million for the fiscal year ended June 30, down 0.2% compared to the prior corresponding period, according to a Tuesday Australian bourse filing.

European sales were up 7.2% and Brazilian sales were up 9.9% in local currencies, offset by weaker direct export sales in the Middle East and Asia as well as continuing declines in Amalgam sales.

Its net profit after tax for the period is expected to be in the range of AU$10 million to AU$10.4 million, compared to AU$10.4 million it reported in the previous fiscal year.

It added that construction at its Montrose project is expected to begin in September upon permit finalization.

Its shares rose 5% on market close on Tuesday.