Solid State PLC - Worcestershire-based-based electronics supplier for industry and defence - Receives a USD25 million order for communications equipment "under a prominent defence order programme". It will be delivered in the next financial year, which concludes in late March 2026. "This order was previously expected to be received and delivered in FY24/25, however as announced in November 2024, it was put on hold following the change in the UK government and pending the outcome of the strategic defence review. Whilst the defence review is expected to report in the spring, this order has been approved by exception," Solid State says. "Given recent geo-political developments, and in light of this order, the company intends to increase investment in the group's production capabilities in both the USA and the UK to accelerate medium term organic growth opportunities within the defence & security sector."
Chief Executive Officer Gary Marsh says: "We welcome this large order which improves our earnings prospects for FY25/26 and will enable us to increase investment and support organic growth across the business."
Current stock price: 203.40 pence each, up 16% on Tuesday afternoon in London
12-month change: down 24%
By Tom Budszus, Alliance News slot editor
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Solid State (SOLI)
