City briefs: Solid State; Headlam
Solid State, the Redditch-based technology manufacturing business, has won a $2.1m (£1.56m) order for radio frequency components from a new customer, CyanConnode.
CyanConnode, also listed on AIM and headquartered in Cambridge, specialises in Narrowband Radio Frequency Smart Mesh Networks which are used for machine to machine communication, often referred to as the ‘internet of things’ or ‘smart technology’.
The initial order is for component solutions for IoT connectivity to enable smart metering’ in India and will be delivered in the next financial year.
John Macmichael, managing director of Solid State Supplies, said: “One of the key challenges was securing the product needed to meet CyanConnode’s build requirements. Despite global supply shortages, through close collaboration with CyanConnode and our manufacturer, product has been secured and buffered to meet their forecasted requirements.”
Headlam Group, the Coleshill floor coverings firm, says it anticipates revenues for 2021 to come in at £667.2mn – up from £578.1m last year.
The listed company also says profit before tax is expected to be slightly ahead of market expectations.
In a statement, Headlam said: “Early trading in 2022 has been encouraging, and the company has continued to be able to largely mitigate the persisting industry wide supply issues and associated inflationary pressures.”