Electronics Production | February 28, 2008
Stadium increased profit by 23%
EMS provider Stadium increased profit by 23% in 2007 from £2.16 million to £2.66 million.
Stadium Group plc, the AIM listed provider of Electronic Manufacturing Services, announces a 23% increase in profit before taxation and sale of property to £2.66m (2006: £2.16m) for the year ended 31 December 2007. The principal activity of Stadium is the production of electronic products and assemblies for original equipment manufacturers from its manufacturing facilities in China and the UK. Stadium serves customers worldwide, primarily in the Consumer, Industrial, Medical and personal care and Automotive sectors. Sales for Stadium were up 6% in 2007 from £38.55 million to £40.76 million. Operating profit was up 22% to £2.96m (2006: £2.42m). “I am pleased to report solid results for the year ended 31 December 2007, with sales and margins showing continued progress. Cash conversion was excellent, resulting in a strong closing balance sheet, and there has been a satisfactory start to 2008. We continue to focus on developing long term trading partnerships with selected customers, many of whom are leaders in high growth markets. We continue to develop our own capabilities such that we offer design, engineering, supply chain and other added value activities in addition to manufacturing services. Following recent acquisitions, Stadium Power has gained critical mass and has potential to deliver sustained profitable organic growth and a platform for further corporate activity”, Nick Brayshaw, Chairman of Stadium Group plc, said.