Solid State Share News (SOLI)

LONDON (Alliance News) - Solid State PLC said Wednesday it expects to beat market forecasts for its current financial year as its order book hits a "new record".

Shares in the computing, power and communications products manufacturer were trading 9.1% higher at 311.00 pence each on Wednesday.

The company said its open order book at the end of September stood at GBP29.6 million, up from GBP18.0 million a year before.

Solid State expects revenue for the first half ended September to be higher on the prior year at GBP23.5 million from GBP22.5 million, reflecting "good trading" in both of the company's divisions.

"The Value Added Distribution division has had a particularly strong period, delivering growth in revenues and margins," Solid State said.

Meanwhile, revenue in the company Manufacturing division is "lower than in the prior year", but Solid State said it has seen "improvement in the gross margin percentage due to the sales product mix" in the six-month period.

Solid State will publish its interim results for the six months ended September on November 20.