- Computer, power and communications product manufacturer Solid State reported a rise in annual profit after its revenue grew by a fifth and its margins expanded.

Pre-tax profit for the year through March increased to £4.0m, up from £2.8m on-year, as revenue jumped 20% to £67.4m.

Solid State held its annual dividend steady at 12.5p per share.

'I am very pleased to be presenting a set of results that demonstrates a resilient performance, enhanced by the group's structural characteristics,' chief executive Gary Marsh said.

'Our diversity in technology, markets and territory has offered some protection against the global headwinds in the period and enabled Solid State to deliver record results.'

'The board is confident that the achievements of the last year and the growth in the open order book demonstrate that Solid State is making good progress towards achieving its goals and that the prospects for the group remain very positive in spite of the disruption that COVID-19 is causing.'

At 9:46am: [LON:SOLI] Solid State Plc share price was -25p at 550p

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