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.
Says it is focused on improving adjusted operating margins, which are expected to be at least maintained or marginally improved at around 9%, compared to 8.7% in financial 2022. As at March 31, order book stands at GBP120.1 million, compared to GBP85.5 million on the same date in 2022. Looking ahead, Solid State says it continues to manage its own supply chain through the investment in inventory to support order fulfilment in the first half of financial 2024 and beyond.
Back in December, the company said pretax profit amounted to GBP4.18 million in the six months that ended September 30, up 98% from GBP2.11 million the year before. Revenue increased 51% to GBP59.4 million from GBP39.4 million
Current stock price: 1,120.65 pence each, up 2.1% on Tuesday around midday in London
12-month change: up 1.8%
By Xindi Wei, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Solid State (SOLI)