Electronics manufacturer boosted by bumper order book
Redditch electronic manufacturer Solid State said it expects to exceed market expectations for the year, boosted by a bumper order book which has increased 64%.
The AIM listed manufacturer of computing, power and communications products issued a trading statement for the six months to the end of September, in which it said group revenues for the period will be ahead of the comparative period at approximately £23.5m (2017: £22.5m) reflecting good trading in both the value added distribution and manufacturing divisions.
The open order book now stands at £29.6m, an increase of 64%, setting a new record for the group, of which £18.1m is scheduled for delivery in the current financial year.
At the comparative point of 30 September 2017, the open order book stood at £18.0m of which £12.4m was scheduled for delivery before 31 March 2018.
Entering the second half, Solid State said it considers its prospects for the year to be positive.
“The group continues to pursue margin enhancement initiatives across both divisions and to progress its acquisition strategy, where the directors continue to review an active acquisition pipeline,” the company said.
