Primary Recommendations

Solid State - Strong growth markets in battery and power technology

June 2023

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.

Solid State is a specialist component distributor and manufacturer of computing, power and communications products. For many years the company did not set the world on fire; I still remember when I first met chief executive Gary Marsh and finance director Peter James in 2017 and they told me about plans to double earnings per share within five years via acquisition. The previous year, Solid State had reported a pretax profit of £3.1m and eps of 30.9p but had seen earnings stagnate and with a market capitalisation of just £40m, it might have seemed improbable. Marsh had joined the group in 1986 and held various positions before taking on the role of chief executive in 2010 and his father had been there before him, so it wasn’t obvious how ...

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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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