The narrative of Solid State’s interims describes how the diversified platform that management has created should be able to deliver another year of results at FY15’s record profit levels, despite delays in deliveries under a major contract with the Ministry of Justice (MoJ) for offender tagging and weakening markets. We leave our estimates unchanged and see fair value at 513p, based on our FY16e estimates.
24 Nov 2015
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Diversified platform gives resilience
The narrative of Solid State’s interims describes how the diversified platform that management has created should be able to deliver another year of results at FY15’s record profit levels, despite delays in deliveries under a major contract with the Ministry of Justice (MoJ) for offender tagging and weakening markets. We leave our estimates unchanged and see fair value at 513p, based on our FY16e estimates.