AFTER a fourth straight set of record results, electronics group Solid State is hoping to grow as the economy continues to improve.
This follows a landmark year for the Redditch company as two major deals helped turnover climb past £32m. Sales at Solid State, which supplies specialist electronic components, industrial computers and battery power services to the electronics market, were up two per cent to £32.1m and pre-tax profit climbed 15 per cent to £2.2m.
The gross profit margin is up from 26.1 per cent in 2013 to 29.2 per cent, while earnings per share are also up 16 per cent – from 21.8p to 25.3p.
Chief executive Gary Marsh said the results were helped by the acquisitions of 2K1 and Q-par, with the company "looking at several more".
He added: " With five years of the economy performing so poorly, people haven't been in a position to sell. Now, a lot of them are. They don't want to miss the boat so there's a pipeline of good opportunities out there."
Solid State expects a year of 18 per cent growth in 2014/15, having already made a promising start to the period.
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