Solid State expects annual profit to 'comfortably exceed' market expectations

Writer, Stock Market Wire
Wednesday, January 30, 2019 - 09:19

Computing and power-product manufacturer Solid State said it expected its annual results to 'comfortably exceed' market expectations.

Revenue for the year through March was expected to be above current guidance, while adjusted profits would be significantly ahead, the company said.

Strong demand experienced by the distribution division had continued into the second half.

In the manufacturing division, however, sales would be second-half weighted. 'Some of the first half shortfall over the prior year is expected to be mitigated in the second half, delivering revenues broadly in line with management's expectations, albeit as expected, slightly lower than last year,' Solid State said.

Chief executive Gary Marsh said the integration of the Pacer acquisition was progressing well.

'In addition to current year trading, the order book now gives us confidence in an improved outlook for our financial year ending 31 March 2020,' Marsh said.

At 9:19am: (LON:SOLI) Solid State Plc share price was +40p at 405p

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