Solid State performing strongly as sectors rebound from pandemic

(Sharecast News) - Computing, power and communications components supplier Solid State said the positive start to its year had continued on Wednesday, describing its order book as "strong", with an "encouraging balance" across industry sectors and regions.
The AIM-traded firm, which was holding its annual general meeting, said that included a rebound in some sectors previously affected by Covid-19-related delays.

Non-executive chairman Nigel Rogers said the acquisitions of Willow Technologies and Active Silicon had "quickly proven their value", resulting in new business that could not have been secured by either party alone.

"Solid State remains acquisitive for complementary technologies and international opportunities that would advance the group's ambition of broadening its product and market exposure," Rogers said.

"The group continues to invest in developing its product offering for targeted strategic growth markets and ensuring group resilience through sector and product diversity."

Nigel Rogers said the board remained "alert" to the challenges presented by global supply chain and Covid-19 risks.

"The group balance sheet strength and the experience of the management team have contributed to a mitigation strategy which has assisted greatly in navigating many of the hazards.

"The board remains optimistic about the group's prospects and will provide a trading update for the first six months of the financial year in October."

At 1132 BST, shares in Solid State were up 1.91% at 1,065p.