StockMarketWire.com - Computing, power and communications products manufacturer Solid State reported group sales for the six months to end of September are expected to show organic growth of circa 7.5% on a proforma basis, with revenue in excess of £33m, despite the heightened macroeconomic and political uncertainties.

The group announced it is on track to deliver its recently upgraded full-year earnings in line with the board's expectations.

As a consequence of favourable operational gearing, revenue growth and gross margin improvement, adjusted profit before tax for the six-month period is expected to be approximately £2.5m.

The open order book stood at £36.5m at the end of September, at the comparative point of 30 September 2018, the open order book stood at £36.2m on a proforma basis, reflecting the restatement of the comparative to include its acquisition of Pacer, as if it had been part of the value added distribution division in the prior year.

Cash generation in the first half has enabled the continued early repayment of the Pacer acquisition loans and resulted in a return to a net cash position of £0.25m at 30 September 2019.




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