Solid State PLC - Redditch, England-based supplier & design-in manufacturer of computing, power, and communications products - Reports continued strong trading in the second half of the year ended on March 31, in line with consensus expectations. Expects to record revenue for financial 2023 of about £125 million, up 47% from £85 million the year before. This is compared to consensus expectations of £120.3 million. Says organic revenue growth on a constant currency basis is expected to be close to 20%. Expects to deliver record adjusted pretax profit of at least £10.5 million, up more than 46% from £7.2 million a year before. Consensus also stands at £10.5 million.

Says it is focused on improving adjusted operating margins, which are expected to be at least maintained or marginally improved at around 9%, compared to 8.7% in financial 2022. As at March 31, order book stands at £120.1 million, compared to £85.5 million on the same date in 2022. Looking ahead, Solid State says it continues to manage its own supply chain through the investment in inventory to support order fulfilment in the first half of financial 2024 and beyond.

Back in December, the company said pretax profit amounted to £4.18 million in the six months that ended September 30, up 98% from £2.11 million the year before. Revenue increased 51% to £59.4 million from £39.4 million

Current stock price: 1,120.65 pence each, up 2.1% on Tuesday around midday in London

12-month change: up 1.8%

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