Record year at Solid State as high demand continues

Redditch-based Solid State, the component supplier and design-in manufacturer of computing, power, and communications products, has reported record results for the year ending March 31 2024.

In a trading update issued this morning, Solid State said that revenues and profit before tax are set to be ahead of expectations because contracts that were set to be delivered in the next financial year have been accounted for in its FY24 results.

The firm said its Systems division has had an exceptionally strong year, with revenues approximately 80% ahead of prior year, due mainly to high demand from customers in the security and defence sectors. The revenue delivered earlier than previously expected has been driven by customer requirements for communications products to be shipped as soon as they are available.

Gary Marsh, chief executive officer, said: “I’m delighted that the group continues to show excellent resilience and the benefits of our divisional balance and sector focus against head winds in certain parts of the business.

“While we continue to take a prudent approach to managing expectations for the year ahead, I take comfort that our underlying business remains robust, balanced and I take great pride from the scale of orders that we have delivered during the course of what has been a record year.”