Solid State expects annual sales and profit to beat City expectations

(Alliance News) - Solid State PLC on Wednesday said its expects full-year revenue and adjusted pretax profit to be ahead of market expectations amid strong trading.

The Redditch, England-based electronics firm, which supplies components to customers in commercial, industrial and defence markets, expects revenue for the financial year to March to be ahead of consensus market expectations of GBP145.0 million, and "not less than" GBP150 million.

It forecast adjusted pretax profit also ahead of consensus market expectations of GBP7.2 million.

In the financial year that ended March 2025, Solid State reported revenue of GBP125.1 million and adjusted pretax profit of GBP5.0 million.

It is "very pleasing" to be upgrading expectations for the year to March and "reporting positive momentum in the open orderbook," commented Chief Executive Nigel Rogers.

In response, shares in Solid State jumped 18% to 165.00 pence each in London on Wednesday.

Solid State said all three divisions have performed strongly with Components delivering strong year-on-year improvement, Power seeing a "significant" improvement and Systems reporting continuing strong demand.

The open order book as at March 31 was GBP106.5 million, up from GBP97.0 million at the end of November, primarily due to strong order intake in the Power division.

The majority of the open order book is expected to be delivered over the next 18 months, subject to supply chain availability, the firm said.

"In recent weeks lead times have started to extend significantly for certain components due to the demand arising from the adoption of AI and the impact of geopolitical instability. The group is pro-actively engaged with customers to manage any potential impact going forward," it said.

By Jeremy Cutler, Alliance News reporter

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