Preliminary Results

Solid State Supplies PLC
20 June 2001



SOLID STATE SUPPLIES PLC

Preliminary Announcement of results for the year ended 31 March 2001

Chairman's Statement

Results

The audited profit before tax of the Company was £971,000 (2000: £430,000) on
a turnover of £9,166,000 (2000:£6,327,000). Basic earnings per share were
11.0p (2000:5.1p).

Trading Review

I am pleased to report that the improvement in trading which commenced in the
latter part of last year has continued throughout this year, giving rise to a
45% increase in turnover for the year under review with a 116% increase in net
profit. The book to bill ratio for the year as a whole was in excess of 1.1.
The problems originating in the USA at the end of last year are being felt
worldwide and although we have started this year well they must eventually
affect everybody in the industry although to what extent it is extremely
difficult to forecast.

The general deterioration in the book to bill ratio recently experienced by
ourselves, in common with other members of the Association of Franchised
Distributors of Electronic Components (AFDEC), would indicate a cautious
approach to prospects for the coming year. However, to date prices have
remained relatively stable. At this stage there is no evidence of an over
supply situation within the industry of the type which brought about the price
erosion that was so damaging in the last recession.

As previously announced, in January 2001 we closed the French office with the
Company consolidating its relationship with its existing suppliers. We are
pleased to have received an award from two of our major suppliers, one for
being its top distributor within Europe.

Dividends

The Directors are recommending a final dividend of 3p per share which,
together with the interim dividend, makes a total for the year of 4.5p per
share. This compares with a total of 3p per share last year. The final
dividend will be paid on 18th July 2001 to shareholders on the register at the
close of business on 29th June 2001.

Conclusion

The excellent results recorded by the Company reflect the efforts put in by
everyone in the Company, and I would like take this opportunity of thanking my
co-directors and all the staff for the hard work which has led to this level
of achievement.

Gordon L Comben

Chairman

19th June 2001



Profit and Loss Account

For the year ended 31st March 2001
                                                         2001              2000
                                               £          £          £       £

Turnover                                               9,165,781       6,327,010
Cost of Sales                                         (6,482,812)    (4,446,012)
                                                       _________       _________
GROSS PROFIT                                           2,682,969       1,880,998
Selling expenses and distribution costs   (1,163,770)           (960,070)
Administrative expenses                     (568,993)           (507,361)
                                           __________                 __________
                                                      (1,732,763)    (1,467,431)
                                                       _________      __________

OPERATING PROFIT                                         950,206         413,567
Other interest receivable and similar                     36,130          18,139
income
Interest Payable                                        (15,429)         (1,989)
                                                       _________     ___________
PROFIT ON ORDINARY ACTIVITIES                            970,907         429,717
BEFORE TAXATION
Tax on profit on ordinary activities                   (281,761)       (111,348)
                                                       _________      __________
PROFIT ON ORDINARY ACTIVITIES                            689,146         318,369

AFTER TAXATION
Dividends - Equity                                     (281,250)       (187,500)
                                                       _________      __________

RETAINED PROFIT FOR THE YEAR                             407,896         130,869
                                                       _________      __________

EARNINGS PER SHARE
Basic                                                      11.0p            5.1p
Diluted                                                    10.7p            5.1p

All amounts relate to continuing activities.
There were no recognised gains or losses other than the profit for the year as
stated above.




Balance Sheet

For the year ended 31st March 2001
                                             2001                    2000
                                    £          £          £            £

FIXED ASSETS
Tangible assets                              314,059                   299,108
Investments                                      100                    76,694
                                           _________                __________
                                             314,159                   375,802
CURRENT ASSETS
Stocks                           1,906,213             1,323,310
Debtors                          2,669,461             1,377,460
Cash at bank and in hand               408               389,857
                               ___________             _________
                                 4,576,082             3,090,627


CREDITORS: Amounts falling       2,400,648             1,384,732
due within one year             __________             _________

NET CURRENT ASSETS                         2,175,434                 1,705,895
                                           _________                __________
PROFIT ON ORDINARY ACTIVITIES              2,489,593                 2,081,697
AFTER TAXATION                             _________                __________

CAPITAL AND RESERVES
Called up share capital                      312,500                   312,500
Share premium account                        756,980                   756,980
Profit and loss account                    1,420,113                 1,012,217
                                            ________                __________
SHAREHOLDERS' FUNDS-EQUITY                 2,489,593                 2,081,697
                                           _________                __________


The financial statements were approved by the Board on 19th June 2001

G L Comben
Director


Notes


 1. The financial information is derived from the Company's audited statutory
    accounts for the years ended 31st March 2001 and 31st March 2000. The
    auditors' reports were unqualified and did not contain a statement under
    Section 237(2) or (3) of the Companies Act 1985. The statutory accounts
    for 2000 have been filed with the Registrar of Companies and the 2001
    accounts will be filed following the Annual General Meeting.

 2. Earnings per share for each year have been based on the profit on ordinary
    activities after taxation divided by the weighted average number of
    ordinary shares in issue during the year of 6,250,000 (2000: 6,250,000).

 3. The Report and Accounts for the year ended 31st March 2001 are being sent
    to shareholders shortly.

 4. The diluted earnings per share are based on 6,425,403 (2000:6,250,000)
    ordinary shares which allow for the exercise of share options.



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