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Solid State PLC - Worcestershire, England-based computing products manufacturer - Says it is ‘very pleased’ with the initial performance of Custom Power LLC, a Los Angeles-based battery systems manufacturer, in its first month of trading following the completion its acquisition in August. At August 31, Custom Power's order book stands at £16.8 million, taking the firm's total order book to £106.8 million. This strong order intake converts to a ‘record start’ to billings for the financial year ending March 31, 2023.
Expects organic revenue growth in excess of 25% in the first half of financial 2023 at constant currency. Margins expected to be able and comparable with the previous year. Confident of being ‘at least in-line’ with analyst expectations in the full-year.
Analyst expectations, according to Solid State, are at £108 million for revenue and £9.2 million for adjusted pretax profit. In the year ended March 31, 2022, revenue stood at £85.0 million and its adjusted pretax profit was £7.2 million.
Current stock price: 1,150.00 pence, up 2.2% in London on Tuesday afternoon
12-month change: up 8.6%
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