- First half revenue up 48 per cent to £88.1mn
- Adjusted pre-tax profit up 39 per cent to £7.3mn
- Net debt slashed from £16.1mn to £3.9mn
First-half results from Redditch-based value-added electronics group Solid State (SOLI: 1,340p) benefited from a full six-month contribution from the August 2022 acquisition of California-based battery pack manufacturing business Custom Power. However, organic growth was still eye-catching, with revenue growth of around 35 per cent on a like-for-like basis.
The electronics group supplies commercial, industrial and defence markets with durable components and manufactured units for use in specialist and harsh environments. Specifically, Solid State focuses on industrial and ruggedised computing, displays, battery power packs, communications including antennas and secure radio systems, and imaging technologies.