It’s good news for Redditch-based Solid State plc as the company has revealed that trading has been ahead of management expectations.
However, the company, which manufactures computing, power and communications products, and distributes electronic components, said that while group revenues were stable, they were also down four per cent year on year.
As previously announced, orders in the first few months were down just under 15 per cent compared to last year, but by the end of July 2020, orders for the four month period had improved, being down seven per cent on a like-for-like basis compared to last year. The open order book at 31 July 2020 was four per cent below the year end at £38.3 million.COVID-19 update:
All of the Group’s four manufacturing sites remain open, are operating effectively and compliant with government guidelines. While the Group has reopened all its offices, it says that where possible staff should continue working from home.
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.
The company said that while the short-term macroeconomic outlook remains uncertain, the Board is confident that given its sector diversity and broad customer base the Group can continue to perform robustly.