Updates

Solid State

August 2018

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Full year results were in line with reduced expectations with revenue growth (all organic) of 16% and a broadly flat (-4%) adjusted pretax profit of £3m. Eps were down 2% at 30.9p. The manufacturing side reported sales up 13% to £26.6m and gross profit up 3% to £8.1m. The gross margin percentage fell to 30.6% (from 33.5%) due to a change in mix; the computing side saw fewer complex higher margin manufacturing projects than in prior years and antennae (which punch above their weight in gross margins) experienced a lengthening of the sales cycle and reduced sales and these high margin areas were instead replaced with low margin work in the rugged radio solutions and traditional battery packs. Trump is ke ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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