Redditch manufacturer Solid State sees revenues up 29 per cent

Solid State plc, a Redditch-based component supplier and design-in manufacturer of computing, power, and communications products, has shared record results for the year ended 31 March 2024.

The business saw revenues of £163.3 million – up 29 per cent on the year prior – with an open order book of £89.2 million as of 31 May.

It’s made ‘significant progress’ towards achieving its 2030 growth strategy, building relationships with Tier 1 security and defence clients and normalising its post-pandemic order book.

Solid State also recently secured a $5.1 million IOT contract from a new US franchise line.

Chairman Nigel Rogers said: “I am delighted to announce that Solid State has delivered another record year of growth, continued strong cash generation and reduction in debt.

“Innovation and the group’s resilient business model, sector knowledge and customer diversity has also helped drive significant organic revenue growth.

“The group has a strong orderbook and is confident that shorter component lead times will enable more efficient conversion of new orders into billings.

“Solid State is ambitious and sees this record year as an important step in ultimately delivering on its 2030 goals.”