Solid State (SOLI)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM All-Share

585.00p
   
  • Change Today:
    -17.50p
  • 52 Week High: 675.00
  • 52 Week Low: 380.00
  • Currency: UK Pounds
  • Shares Issued: 8.52m
  • Volume: 12,639
  • Market Cap: £49.84m

Solid State sees record performance continue in first half

By Josh White

Date: Thursday 24 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Computing, power and communications products manufacturer Solid State updated the market on its trading for the six months ended 30 September on Thursday, reporting that the record performance it in the last financial year had continued in the first half of the current year.
The AIM-traded company said it was on track to deliver the recently-upgraded full-year earnings in line with the board's expectations.

Group sales for the first half were expected to show organic growth of around 7.5% on a proforma basis, giving revenue in excess of £33m, despite the heightened macroeconomic and political uncertainties of recent months.

Gross margins had benefited from around £0.3m of foreign exchange tailwinds in the first half, with underlying group margins seeing a "slight improvement" over the prior period.

That margin improvement was achieved notwithstanding the expected dilutive effect on group margins of the enlarged value added distribution division post the Pacer acquisition, the board explained.

As a result of favourable operational gearing, revenue growth and gross margin improvement, adjusted profit before tax for the period was expected to be approximately £2.5m.

"The board is particularly pleased with the cash generation in the first half," the board said in its statement.

"This has enabled the continued early repayment of the Pacer acquisition loans and resulted in a return to a net cash position of circa £0.25m at 30 September."

Solid State's open order book at period end stood at £36.5m, compared to £36.2m a year earlier, on a proforma basis.

The company said its interim results for the six months ended 30 September were expected to be released on 3 December.

As at 1256 BST, shares in Solid State were down 1.22% at 485p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Solid State Market Data

Currency UK Pounds
Share Price 585.00p
Change Today -17.50p
% Change -2.90 %
52 Week High 675.00
52 Week Low 380.00
Volume 12,639
Shares Issued 8.52m
Market Cap £49.84m

Solid State Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
45.27% below the market average45.27% below the market average45.27% below the market average45.27% below the market average45.27% below the market average
10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average
Price Trend
86.47% above the market average86.47% above the market average86.47% above the market average86.47% above the market average86.47% above the market average
69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average
Income
16.77% below the market average16.77% below the market average16.77% below the market average16.77% below the market average16.77% below the market average
52.38% above the sector average52.38% above the sector average52.38% above the sector average52.38% above the sector average52.38% above the sector average
Growth
12.18% above the market average12.18% above the market average12.18% above the market average12.18% above the market average12.18% above the market average
10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average

Solid State Dividends

  Latest Previous
  Interim Final
Ex-Div 23-Jan-20 29-Aug-19
Paid 14-Feb-20 19-Sep-19
Amount 5.25p 8.30p

Trades for 24-Feb-2020

Time Volume / Share Price
16:02 84 @ 588.00p
15:54 400 @ 575.00p
15:28 168 @ 589.00p
14:16 1,206 @ 575.00p
15:13 700 @ 575.20p

Solid State Key Personnel

CEO Gary Marsh

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