The electronic components company proposed a total dividend of
It posted a pretax profit of
Solid State saw gross margins of 29.2% during the year, up from 26.1%.
In the company's specialist electronic equipment business, Steatite, profit margin improved as it continued to gain market share in new sectors and secured new supply partners.
Q-Par, which the company acquired last May, exceed expectations as it was integrated and restructured under new management. The company said Q-Par also enhanced margin due to its offering of high-end technical services.
In its component distribution segment,
The integration of Electronic Components allows the business to compete for larger contracts than it had previously, Solid State said.
The company said that it will continue to pro-actively look for further acquisition opportunities.
"Our strong pipeline of new designs across a wide range of products and markets enable us to look with confidence to the year ahead," the company said in a statement.
Shares in Solid State were trading up 2.5% at
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