Solid State powers up as results set to beat forecasts
Electronics manufacturer Solid State expects to beat market forecasts for FY24/25.
The Redditch-based company is set to deliver revenues of at least £124m and an adjusted pre-tax profit of £4.25m for FY24/25.
The increase comes despite a profit warning late last year due to delays in a major defence order.
The open order book hit £108.5m at year-end, up from £76.6m in September and excluding the large March contract, the order book still saw a 17% increase.
CEO Gary Marsh said: “We are pleased to be expecting to announce results ahead of expectations. Order intake was particularly strong through October to January, with the notable £19m order announced in March providing a welcome start to FY25/26.”
While the firm continues to monitor the impact of shifting global tariffs, it remains confident in its structure.
The group says it’s working closely with customers to adapt and expects to pass on any tariff costs where applicable.
Solid State is also investing in its US operations and antenna production capabilities, with a continued focus on the defence and security sectors.
Recent acquisitions – Gateway Electronics and Q-Par US – are part of a wider expansion strategy that includes target scouting in the UK, US and Asia.
Marsh continued: “The Board continues to have confidence in the prospects for the Group and is investing for growth, whilst being conscious of the macroeconomic environment.”
