Solid State Share News (SOLI)

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190.00 -5.00 (-2.56%)

Bid:

185.00

Ask:

195.00

Spread: 10.00 (5.405%)

Market Cap: £107.79m

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IN BRIEF: Solid State expects full-year in line with analyst consensus

Wed, 07th Sep 2022 14:38

Solid State PLC - Worcestershire, England-based computing products manufacturer - Says it is "very pleased" with the initial performance of Custom Power LLC, a Los Angeles-based battery systems manufacturer, in its first month of trading following the completion its acquisition in August. At August 31, Custom Power's order book stands at GBP16.8 million, taking the firm's total order book to GBP106.8 million. This strong order intake converts to a "record start" to billings for the financial year ending March 31, 2023.

Expects organic revenue growth in excess of 25% in the first half of financial 2023 at constant currency. Margins expected to be able and comparable with the previous year. Confident of being "at least in-line" with analyst expectations in the full-year.

Analyst expectations, according to Solid State, are at GBP108 million for revenue and GBP9.2 million for adjusted pretax profit. In the year ended March 31, 2022, revenue stood at GBP85.0 million and its adjusted pretax profit was GBP7.2 million.

Current stock price: 1,150.00 pence, up 2.2% in London on Tuesday afternoon

12-month change: up 8.6%

By Heather Rydings; heatherrydings@alliancenews.com