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(Sharecast News) - Electronic components manufacturer Solid State reported a strong set of FY26 results on Monday, with the firm's performance underpinned by continued demand from the defence and security sector, which accounted for around 47% of group revenue.
Solid State said total revenues rose 23.2% to 154.1m, with all three divisions delivering growth. Systems revenue jumped 47.8% to 62.5m, driven by the recognition of a 23.3m communications programme in the first half, while power revenuea increased 15.6% to 31.8m on the back of significant contract wins and improving market conditions, and components rose 8.1% to 59.8m. Group gross margins improved 200bps to 33.5%.
Adjusted operating profits rose 60% to 9.6m, with adjusted pre-tax profits up 72% to 8.6m and adjusted diluted earnings per share up 77.4% to 11.0p. Cash generated from operations increased 29.8% to 13.5m, while the group's fullyear dividend was lifted 10% to 2.75p. Reported operating profits climbed to 6.9m from 1.3m.
Solid State also noted that its initial Project CAIN shipment was completed in Q1 FY26/27, with an open order book of 102.4m supported by a significantly stronger nonNATO pipeline. It now expects to exceed current market expectations for FY26/27.
As of 1435
BST, Solid State shares were up 7.79% at 207.50p.
Reporting by Iain Gilbert at Sharecast.com
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