Ad
Ad
Ad
© stadium group Electronics Production | March 15, 2017

Stadium with level revenue in 2016

Overall revenues for the full year were down slightly at GBP 53.1m (2015: GBP 53.9m). Underlying this is a shift in favour of the higher margin Technology Products division.
Technology Products sales increased 18.1 percent to GBP 31.9m (2015: GBP 27.0m) and now represent 60 percent of total sales, compared to 50 percent in the previous year. Electronic Assemblies sales reduced to GBP 21.2m (2015: GBP 26.9m), reflecting continued reductions in sales volume and further price pressure.

Because of this more favourable sales mix, normalised gross profit margins improved to 25.1 percent (2015: 23.2 percent) Normalised operating profit margins were 8.6 percent (2015: 8.5 percent) with normalised operating profit at GBP 4.56m (2015: GBP 4.58m). Normalised profit before tax grew by 5.2 percent to GBP 4.22m (2015: GBP 4.01m) and adjusted EPS was 9.1p (2015: 9.9p).

Statutory reported profit before tax was up 29.4 percent to GBP 2.20m (2015: GBP 1.70m), which includes non-recurring items such as reorganisation costs, the release of the deferred consideration relating to the Stontronics acquisition, amortisation of acquired intangible assets and interest charged on the fair value of deferred consideration.

In 2015, the group invested significantly to relocate and materially upgrade its facilities in Asia. In 2016, the company addressed its operating model in Europe, through both investment and reorganisation in facilities, equipment, R&D and people. Net debt was GBP 3.3m (2015: GBP 4.7m), with cash (net of overdrafts and invoice discounting) at GBP 4.6m (2015: GBP 3.8m).

Commenting on outlook, Chairman Nick Brayshaw OBE said: "We are very excited about the prospects for the Group and believe that our operating model focused around strategically located regional design centres, manufacturing centres of excellence and regional fulfilment centres will allow us to deliver accelerated growth in 2017. Our order book at the year-end was at record levels, up 36 percent on the previous year end at GBP 25.8m. Our offering of complementary electronic technologies and design-focused engineering expertise is proving very attractive to current, previous and new customers, and this growing demand gives us confidence in the outlook for 2017, which has started positively."

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news
March 25 2017 3:01 PM V8.0.2-2