Solid State - Strong finish to FY22 to deliver record profit
Solid State’s trading update this morning notes that, following an exceptionally strong finish to FY22, it expects the group to announce a 28% increase in revenues year-on-year to a record c £85m and a 33% jump in adjusted profit before tax to c £7.2m, also a record. Consensus FY22 and FY23 adjusted PBT estimates, which were upgraded in February, have been raised by 11% and 12% respectively.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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