**Summary**
Solid State PLC, a specialist value-added component supplier and design-in manufacturer, reported strong interim results for the six months ended September 30, 2025. The companys revenue increased by 38.6% to £85.7 million, driven by a major communications order that offset softness in the industrial sector. Adjusted profits before tax rose to £4.9 million, and the company maintained a solid open order book of £87.3 million. Despite slower order intake in H1, the company expects to meet consensus market expectations for FY25/26, supported by a strong prospect pipeline and improved order intake in H2.
**Key Highlights**
1. **Financial Performance**
Revenue£85.7 million (+38.6% YoY)
Adjusted profits before tax£4.9 million (+96.0% YoY)
Diluted earnings per share5.0p (+194.1% YoY)
Interim dividend0.92p (+10.8% YoY)
2. **Operational Achievements**
Opened a new integrated systems facility, enhancing capacity and capabilities.
Secured a £1.65 million integrated systems order from a new government customer.
Consolidated Active Silicon business into one facility, improving collaboration and efficiency.
Awarded a $5.2 million IoT contract from a US franchise line.
Collaborated with Custom Power & Volklec UK to deliver an energy solution for the UK defense sector.
3. **Strategic Initiatives**
Focus on growing the core business to deliver 20p of adjusted EPS by 2030.
Targeting strategic customers in defense, medical, transport, and industrial automation sectors.
Investing in talent developmenttechnology portfolio expansionand internationalization.
4. **Leadership Changes**
Appointed John Macmichael as Interim CEO following the sad passing of Gary Marsh.
Strengthened the board with the appointment of Victor Chavez CBE as Non-Executive Deputy Chairman.
5. **Outlook**
Confident in meeting full-year consensus expectations, supported by a strong order book and prospect pipeline.
Expects to benefit from increased public spending in the defense sector and the adoption of communications technology across the NATO alliance.
**Conclusion**
Solid State PLC demonstrated resilience and growth in the first half of FY25/26, despite challenges in the industrial sector. The companys strategic focus on high-value sectors, investment in capabilities, and strong customer relationships position it well for continued success. With a robust order book and pipeline, Solid State is on track to meet its full-year targets and deliver long-term value to shareholders.