Solid State Continues Strong Performance, Expects Upgraded Forecasts to be Met

Solid State has reported a strong start to the financial year across both of its divisions, expressing confidence in meeting recently upgraded forecasts. The company attributes its success to a robust and diverse customer base spanning multiple sectors. Particularly notable is the strong order intake in the security and defense sector, as well as the consistent demand and new design opportunities in the medical sector.

For the fiscal year ending March 31, Solid State is expected to report revenue of £147.3 million ($185.1 million) and an adjusted pretax profit of £11.9 million. In comparison, last year's figures stood at £126.5 million in revenue and an adjusted pretax profit of £10.8 million.

The company mentions that its order book profile is gradually returning to normal as lead times improve. Currently, the order book totals £101.1 million, with approximately 65% of orders expected to be delivered within the remainder of the current fiscal year.

Solid State remains confident in effectively managing supply chain and input risks, despite persistent challenges. However, the company remains mindful of current macroeconomic risks.

As of 0708 GMT, shares have increased by 37.5 pence or 2.9% to 1,347.5 pence.