LONDON (ShareCast) - (Sharecast News) - AIM-listed speciality electronics firm Solid State saw pre-tax profits decline slightly in its last trading year, despite a jump in revenues.




Solid State turned in an adjusted profit before tax of £3m, down 4.15% on the year before, while revenues climbed 15.75% to £46.3m.

The firm's adjusted operating margin fell 137 basis points to 6.56% due to changes to its sales mix where its historically lower margin value-added distribution wing made up a larger proportion of its overall margin.

Solid State remained confident that moving forward, with its open order book stood at an all-time high £23m, it would easily recover from the setbacks seen in 2018.

Chief executive Gary Marsh said the group would put more focus on its value-added distribution and manufacturing units, while further investment into its power division would likely help Solid State deliver more "complex, higher margin solutions".

Earnings per share slipped 2% to 30.9p, while Solid State's dividend per share remained flat on 12p.

As of 1320 BST, Solid State shares had dipped 2.38% to 307.50p.

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