Stadium with decreasing revenue in 2012

Commenting on outlook, Chairman Nick Brayshaw OBE said: “Trading in the first few months of the year has been challenging given a continuation of the difficult market conditions experienced in the latter part of 2012. Going forward our self-help programmes will deliver leaner business structures and improve operational efficiency, which will offset the impact of weak or zero growth. The Board remains committed to the growth strategy of investing in technology led businesses where we can leverage our manufacturing know how and exploit cross selling opportunities, and will continue to explore suitable opportunities to drive this strategy forward. Consequently, the Board remains confident in its strategy for the future and the Group’s prospects for the current year.” Financial headlines

• Revenues of £40.99m (2011: £44.94m)
• Reported profit before taxation of £1.77m (2011: £3.96m)
• Adjusted profit before taxation of £1.44m (2011: £2.64m)
• Reported earnings per share of 4.2 pence (2011: 9.0 pence)

Other highlights

• IGT (Interface & Displays) business acquired in September 2012
• Consolidation of the UK iEMS business
• Rationalisation of the Asia operation with activities transferring from HK to mainland China
• New Finance Director Joanne Estell appointed in September