Solid State presses “go” on investment as it anticipates resilient results

Solid State

Redditch-based computing and power products manufacturer Solid State plc, has reported its performance for the six months ended September 30 is likely to be similar to the same period last year, with revenues around £33 million.

The company said that demand from the medical and security & defence sectors continued to be robust.

And while the outlook remains unsure for the UK economy, Solid State is preferring to look on the positive side. It has restarted its capital expenditure programme and is even looking to re-engage with potential acquisition targets.

Despite the influences of the COVID-19 pandemic throughout the financial year so far, adjusted profit is likely to be around £2,5 million, just down from £2.67 in 2019.

The open order book at 30 September 2020 was £34.3 million(30 September 2019: £36.5m). While the manufacturer’s order book reflects some delays in order intake and a shortening of client order scheduling in response to COVID-19 uncertainties, the demand from sectors such as medical and security & defence have been robust during the first half.

Solid State expects to announce its results for the six months ended 30 September 2020 on Tuesday 8 December 2020.

Headquartered in Redditch, Solid State employs more than 200 staff across the UK with a branch office in the USA, serving specialist markets in oil and gas production, transportation, medical, construction, security, military and field maintenance.