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Electronics Production | September 03, 2010

Stadium Group with revenues up 37% for 1H/2010

Revenue for the EMS-provider Stadium Group increased by more than one third compared with the same period last year, operating margin improved, and profit before taxation more than doubled to GBP 1.45 million.
Revenues (continuing operations) were up 37% amounting to GBP 23.13M (1H/2009: GBP 16.83M). Profit before taxes was likewise up; by 120% to GBP 1.45M (1H/2009: GBP 0.66M). The EMS-provider also reported a strong net cash flow from operations at GBP 1.68M (1H/2009: GBP 1.45M).

Nick Brayshaw OBE, Chairman of Stadium Group plc, said: "The Group benefited from broad recovery in customer demand across most industrial and geographical segments, and increased market share through further new business wins in key target markets."

"The strength and speed of recovery since early 2009 demonstrates that Stadium continues to be a robust and reliable business partner. The positive outlook for revenues from the core business in the second half is expected to continue, such that even without the contribution of Branded Plastics for the remainder of the year, we are confident of achieving market expectations for the full year ending 31 December 2010", he continued in saying.

"The divestment of the non-core branded plastics business enables the business to focus entirely on growth in the core areas of EMS and Power, and releases financial and management resources to seek new opportunities to leverage these areas of core capability. We anticipate further exciting opportunities for the future, both organically and through targeted acquisitions."

"The board’s satisfaction with the strong performance of the business and positive outlook was sadly put into perspective by the tragic death of Ken Leung on 23 August 2010", Mr Brayshaw concludes.

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