IN BRIEF: Solid State Hails Resilient Interim Results Despite Covid

Solid State PLC - Worcestershire-based computing products manufacturer - For six months to the end of September, expects adjusted pretax profit to be GBP2.5 million, down 7.4% from GBP2.7 million the year before, on revenue set to dip by 1.7% to GBP33.0 million from GBP33.6 million.

Despite the lower reading, Solid State referred to period as "a record first-half performance", due to the disruption from the Covid-19 pandemic.

Order book as at September 30, was GBP34.3 million, down 6.0% from GBP36.5 million the same date the prior year, due to delays in order intake and shorter client order as a result of Covid-related uncertainties.

However, demand from medical, security and demand sectors have remained robust throughout the first half.

"While the outlook remains opaque, the board currently anticipates an outcome to the 2020/21 financial year similar to the prior year. Having paused our investment and acquisition activities at the outset of the pandemic, the group has restarted its capex programme and is re-engaging with potential acquisition targets across both divisions," the group said.

Solid State will publish its interim results on December 8.

Current stock price: 576.00 pence

Year-to-date change: down 9.3%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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