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Electronics Production | March 09, 2011

Stadium Group with record operating profit

Stadium Group reports revenues of GBP 44.81 million - an increase of 27%. Operating profit from continuing activities also increased by 72% to a record GBP 3.34 million.
Furthermore, the UK-based EMS-provider disposed if its non-core plastics business during the quarter ending December 31, 2010.

Financial highlights

· Revenues up by 27% to GBP 44.81m (2009: GBP 35.30m)
· Profit before taxation up by 95% to GBP 2.87m (2009: GBP 1.47m)
· Balance sheet net cash of GBP 1.67m (2009: GBP 0.40m)
· Sale of surplus freehold property (NBV GBP 2.04m) progressing well

Commenting on outlook, Chairman Nick Brayshaw OBE said:

“We remain optimistic that continued growth will be achieved from existing products and customers, and will continue to win new business to increase our market share as the key to future success. The company now has a clear focus on core electronics activities, and a strategy has been set out to continue to deliver strong organic growth. This is driven by the delivery of premium manufacturing and engineering services to a base of long term business partners."

"The goal is now to become acknowledged as the leading UK owned provider of electronic design and build solutions, by continuing to target new customers across the world in high growth industry sectors. The company has the financial resources available to invest in the people, processes and technology required to deliver further progress towards this goal during 2011 and beyond"

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