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Pin to quick picksSolid State Share News (SOLI)

Share Price Information for Solid State (SOLI)

London Stock Exchange
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Share Price: 1,505.00
Bid: 1,490.00
Ask: 1,520.00
Change: 20.00 (1.35%)
Spread: 30.00 (2.013%)
Open: 1,485.00
High: 1,505.00
Low: 1,485.00
Prev. Close: 1,485.00
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Sunday share tips: Solid State, Cordiant Digital

Sun, 09th Jul 2023 23:45

(Sharecast News) - The Financial Mail on Sunday's Midas column tipped shares of electronics manufacturer Solid State to its readers.

"Solid State shares have risen over the years but, at £12.60, there is plenty of room for further rewards.

"[Chief executive officer and finance director] [Gary] Marsh and [Peter] James are a strong team, the business is well regarded and the push overseas is already delivering results. Buy."

Marsh and James's stated aim was to deliver shareholder returns in excess of 20% each year until 2030.

Worth noting, a prior goal, set in 2018, to double group earnings over five years was surpassed in 2022.

Just last week they got off to an auspicious start, reporting record results for the year ending on 31 March as sales jumped by 48% and profits by half.

And while the duo was "extremely fussy" when it comes to potential deals, they were eyeing up some interesting purchases.

Last summer, Solid State bought US-based Custom Power, in a bid to reap the rewards from the Biden administration's Inflation Reduction Act and the drive towards renewable energies and electric vehicles.

The Sunday Times's Lucy Tobin recommended shares of digital infrastructure fund Cordiant Digital.

She noted how the shares had been dumped amid the rise in interest rates during the past year, pushing their value 25% below that of its portfolio.

Yet few would deny the importance of its assets, including telecoms towers, data centres and fibre networks, she argued.

Furthermore, the company's portfolio companies had delivered 8% growth in revenues for the year to April and announced a 4.0p dividend payout, three years ahead of schedule.

"The racing pace of tech development brings risks as well as benefits to Cordiant. It would be hammered if fibre networks become outmoded or regulators set out price controls on digital infrastructure," she said.

"The opportunities, though, are vast: as tech adoption swells, AI penetration kicks in and autonomous vehicles roll out, data transfer will grow. Plug into Cordiant Digital."

More News
4 Apr 2023 12:18

IN BRIEF: Solid State eyes annual results to be in line with consensus

Solid State PLC - Redditch, England-based supplier & design-in manufacturer of computing, power, and communications products - Reports continued strong trading in the second half of the year ended on March 31, in line with consensus expectations. Expects to record revenue for financial 2023 of about GBP125 million, up 47% from GBP85 million the year before. This is compared to consensus expectations of GBP120.3 million. Says organic revenue growth on a constant currency basis is expected to be close to 20%. Expects to deliver record adjusted pretax profit of at least GBP10.5 million, up more than 46% from GBP7.2 million a year before. Consensus also stands at GBP10.5 million.

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4 Apr 2023 10:20

Solid State sees continued 'strong trading' in H2

(Sharecast News) - Value-added component supplier Solid State said on Tuesday that it had seen "continued strong trading" in the second half of the year, resulting in a performance that it expects will be in line with consensus expectations.

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6 Dec 2022 16:21

Solid State revenue, profits rise in first half

(Sharecast News) - Computing, power and communications components specialist Solid State reported first-half revenue of £59.4m on Tuesday, up from £39.4m year-on-year.

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6 Dec 2022 14:23

Solid State to beat full year expectations as half year profit jumps

(Alliance News) - Solid State PLC on Tuesday said it is confident in exceeding full year expectations for financial 2023 as its profit increased in the first half of its year.

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22 Nov 2022 16:23

IN BRIEF: Solid State wins GBP9.8 million defence contract with Nato

Solid State PLC - Redditch-based supplier and design-in manufacturer of computing, power, and communications products - Signs GBP9.8 million follow-on defence contract with Nato Support & Procurement Agency to supply communications equipment to a defence customer through its Systems division. Expects revenue from contract to contribute to market expectations for financial year 2024.

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14 Nov 2022 15:43

Solid State wins GBP7.3 million defence contract with Nato

(Alliance News) - Solid State PLC on Monday said it has been awarded a GBP7.3 million contract by the Nato Support & Procurement Agency to supply communications equipment to a defence customer through its Systems division.

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26 Oct 2022 14:35

TRADING UPDATES: Solid State expects to top annual expectations

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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7 Sep 2022 14:38

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

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.

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8 Aug 2022 13:21

Solid State completes acquisition of LA-based Custom Power

(Sharecast News) - Computing, power and communications value-added component supplier Solid State has completed the acquisition of Custom Power, it announced on Monday.

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8 Aug 2022 13:21

Solid State completes acquisition of LA-based Custom Power

(Sharecast News) - Computing, power and communications value-added component supplier Solid State has completed the acquisition of Custom Power, it announced on Monday.

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8 Aug 2022 11:19

IN BRIEF: Solid State completes Custom Power acquisition

Solid State PLC - Worcestershire, England-based computing products manufacturer - Completes the acquisition of Custom Power LLC, a Los Angeles-based battery systems manufacturer.

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27 Jul 2022 12:01

EARNINGS UPDATES: Yourgene posts record revenue; Solid State payout up

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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13 Jul 2022 10:48

IN BRIEF: Solid State raises GBP26 million in oversubscribed placing

Solid State PLC - Worcestershire-based computing products manufacturer - Raises roughly GBP26.3 million in a placing of 2.6 million shares at 1,025 pence each. The placing was oversubscribed with WH Ireland Group PLC and finnCap Group PLC acting as joint brokers.

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12 Jul 2022 18:07

Solid State to acquire battery manufacturer for USD45 million

(Alliance News) - Solid State PLC said on Tuesday it entered a conditional agreement to acquire Los Angeles-based battery systems manufacturer Custom Power LLC for a maximum of USD45.0 million.

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20 Jun 2022 10:04

Solid State to deliver CCTV system for London Tube's Piccadilly Line

(Alliance News) - Solid State PLC on Monday said it has won a contract with Transport for London, to deliver a new one person operation CCTV system on the Piccadilly line with the London Underground train network.

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