Solid State plc, the Redditch-based computing and power products manufacturer, has reported a 19 per cent rise in the six months ended 30 September, with revenues of £39.4 million, up from £33.1 million in the same period last year.
Nigel Rogers, Chairman of Solid State, said: “Our half year results are particularly pleasing given the widely reported challenges in the global supply chain and more local pressures in staffing and the foreign exchange headwinds at a revenue level.
“The successful acquisition programme has added resilience and opened up opportunities to grow the business in targeted regions and industry sectors. We continue to see acquisitions as a pillar of our growth strategy.
“Group-wide we have worked closely with customers and suppliers in response to the rebound in the economy. This is evident in the order flow and the strong open order book, which gives the Board confidence in meeting expectations1 for the full year.”
Highlights for the year include a previously announced $4.6m defence contract within the components division which secured a three-year contract renewal with a global defence technology customer to supply components for its defence aerospace programme and completing the commissioning of the Group’s in-house Electromagnetic Compatibility (EMC) testing facility and continued to invest in enhancing the Group’s capabilities through the capital investment programme.
Solid State PLC has five principal trading companies in the UK; Solid State Supplies LTD, Steatite LTD, Pacer Components, Active Silicon LTD and Willow Technologies LTD. Willow Technologies also has a US based subsidiary, American Electronic Components Inc (AEC) based in Indiana.
2021 marks fifty years since the company was established and twenty five years since being admitted to AIM. The company employs around 300 staff across the UK and US.