Solid State - Five-year growth target achieved
Solid State delivered record revenues and profits during FY22, with adjusted EPS rising by 29% year-on-year to 70.6p. This is well ahead of management’s own five-year target of doubling EPS to more than 60p by 2022, giving a CAGR in total shareholder return of above 20% over the five-year period. Management is now seeking to replicate or better that achievement over the next five years to 2027.Solid State manufactures electronic equipment and distributes electronic components and materials. Co. has two divisions: Distribution, which is a distributor serving the needs of the electronics original equipment manufacturer community in the U.K. and products provided include those for the internet of things, embedded processing, control, wireless and wired communications, power management, and light-emitting diode lighting from manufacturers; and Manufacturing, which is engaged in the design, development and supply of rugged and industrial computers, portable power and energy storage solutions, communication systems, antennas and high bandwidth video transmission products.
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