Solid State Supplies PLC
17 July 2001
SOLID STATE SUPPLIES PLC
Chairman's Statement
In view of the present market conditions, I feel that it is in order for me to
update Shareholders on the current trading of the Company.
During the three months ended 30th June 2001, sales amounted to £2.25 million
compared with £1.7 million for the same period last year. However, bookings of
new orders in the same period amounted to £1.4 million compared with £1.85
million for the same period last year. Cash flow during the three months ended
30th June 2001 improved by just over £1 million.
Whilst the Directors cannot forecast the results for the current year they
will reflect the tougher environment currently being experienced and are
unlikely to match the excellent outcome for last year although much depends on
the timing of any recovery.
The Directors are aware of the recent fall in the Company's share price,
albeit against the background of a weak stockmarket generally. The Directors
believe that it is in the interests of Shareholders to renew the authorisation
under Section 166 of the Companies Act 1985 allowing the Company to make
market purchases of its own shares. Notice of an Extraordinary General meeting
at which the proposal will be put to shareholders will be sent to Shareholders
shortly.