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Revenues Rise at Solid State PLC

Published: Tuesday, 2nd July 2019

Solid State plc, the London Stock Exchange, AIM listed manufacturer of computing, power and communications products, and distributor of electronic components, has announced its final results for the year ended 31 March 2019 which marks its best ever performance. Revenues are up at the Redditch-based business by 22 per cent to £56.3 million.

Tony Frere, Chairman of Solid State said:”The financial year ended 31 March 2019 has seen the Group deliver its best ever performance in terms of both revenue and profit from the core business and make significant progress against its strategic objectives.

“Our strategy is to deliver growth both organically and through acquisition.  These results illustrate our success in both aspects, and our continued commitment to deliver on this strategy and our aspiration to double the size of the business.

“The Group open order book at 31 May 2019 was up 56% on the prior year at £35.9m.  The acquisition of Pacer has been a large contributor, however like for like, the proforma open order book was still up 20%. This gives the Board confidence that the Group remains on track to deliver in-line with our expectations.”

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