The half year update is encouraging, with strong revenue growth (CER growth of ~30%) and order intake assisted by the accretive acquisition of Custom Power, which is trading well. The 13% stronger dollar boosts revenues, although partly offset by higher dollar input costs, resulting in a 6.1% increase to EBITDA. Higher H2 interest costs are expected, giving a £0.1m increase to FY23 adj. PBT to £9.4m. The shares continue to trade at a 21% discount to its peers, with our 1535p price target offerin ....
26 Oct 2022
Solid State - Half year update – flags FY PBT slightly ahead of expectations
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Solid State - Half year update – flags FY PBT slightly ahead of expectations
Solid State plc (SOLI:LON) | 1,375 0 0.0% | Mkt Cap: 156.0m
- Published:
26 Oct 2022 -
Author:
David Buxton -
Pages:
6
The half year update is encouraging, with strong revenue growth (CER growth of ~30%) and order intake assisted by the accretive acquisition of Custom Power, which is trading well. The 13% stronger dollar boosts revenues, although partly offset by higher dollar input costs, resulting in a 6.1% increase to EBITDA. Higher H2 interest costs are expected, giving a £0.1m increase to FY23 adj. PBT to £9.4m. The shares continue to trade at a 21% discount to its peers, with our 1535p price target offerin ....