11 July, 2017
Solid state sales surge as company eyes expansion
Revenues have hit the £40m mark at Redditch-headquartered Solid State, with the electronics manufacturer now aiming to double in size over the next five years.
Turnover increased from £36.8m in the year to 31 March 2017, while pre-tax profits climbed to £2.7m from £2.6m.
Solid State chairman Tony Frere said the year was “very productive in laying foundations for the future growth of the group”.
“Our ambition is to double the size of the business over the next five years through a combination of organic and acquisitive growth,” he added.
“Activity levels are encouraging across both divisions. Leading edge indicators which include our open order book, which is at a record £20.67m and up 16 per cent on the comparable period last year, our book to bill ratio, and our first quarter order intake, give the board confidence in the prospects for Solid State.”
Source: Insider Media