Solid State has finalised a settlement agreement with the Ministry of Justice (MoJ) for the terminated contract to supply sub-systems for offender tagging. We treat this payment, the value of which is not disclosed, as an exceptional item. Our adjusted PBT and EPS estimates, which already reflect the absence of continued revenues from the contract, remain unchanged. Management estimates that the settlement will boost FY16 reported PBT to £4.1m.

25 May 2016
Settlement of MoJ contract

Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
Settlement of MoJ contract
Solid State plc (SOLI:LON) | 205 0 0.0% | Mkt Cap: 116.2m
- Published:
25 May 2016 -
Author:
Anne Margaret Crow -
Pages:
2 -
Solid State has finalised a settlement agreement with the Ministry of Justice (MoJ) for the terminated contract to supply sub-systems for offender tagging. We treat this payment, the value of which is not disclosed, as an exceptional item. Our adjusted PBT and EPS estimates, which already reflect the absence of continued revenues from the contract, remain unchanged. Management estimates that the settlement will boost FY16 reported PBT to £4.1m.