29 October 2015
Solid State plc
("Solid State" or the "Company")
Trading Update & Notice of Interim Results date
Solid State plc (AIM: SOLI), the AIM listed supplier of specialist industrial/ruggedised computers, electronic components, secure communications systems and battery power solutions to the electronics market, announces the following trading update ahead of its Interim Results to be released on 24 November 2015.
"Despite some softening in Solid State's markets as widely reported by industry peers, the Company has made a satisfactory start to the year. Results for the six months to 30 September 2015 are expected to show turnover and profits before tax of approximately £21 million (2014: £17.13m) and approximately £1.50 million (2014: £1.55m) respectively.
"Following a customer meeting on 27 October 2015, delivery expectations for a material contract have been varied which will impact the second half of the year. The contract is high profile and a high priority for the customer and Solid State is confident that it is fulfilling its obligations to the customer.
"The Board continues to expect a second half weighting in the underlying business however, due to the contract variations and general market softening, it now anticipates that revenues and profits in the second half will be significantly lower than expected and, as a result, revenues and profits for the year as a whole will be below market expectations."
Notice of Interim Results - Solid State will be announcing its Interim Results for the six months to 30 September 2015 on Tuesday 24 November 2015. Those wishing to attend an update on the results from the Directors or requiring further information on the Company should contact Tom Cooper on 0797 122 1972 or [email protected].
For further information please contact:
Solid State plc |
01527 830 630 |
Gary Marsh - Chief Executive |
[email protected] |
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WH Ireland (Nominated Adviser) |
0117 945 3470 |
Mike Coe / Ed Allsopp |
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Walbrook PR (Financial PR) |
020 7933 8780 |
Tom Cooper / Paul Vann |
0797 122 1972 |
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[email protected] |
Notes to Editors:
Solid State plc (SOLI) is a leading value added group of companies providing specialist design-in and manufacturing services to those acquiring industrial/rugged computing products, battery power solutions, secure communications systems and electronic components for use in harsh environments.
Serving niche markets in oil & gas production, medical, construction, security, military and field maintenance, Solid State acts as both a distributor to OEMs and bespoke manufacturer of specialist units to clients with complex requirements.
Headquartered in Redditch, Solid State employs over 150 staff across five sites. Solid State operates through two main divisions: Solid State Supplies and Steatite.
Solid State was established in 1971 and admitted to AIM in June 1996.
