Electronics Production | September 07, 2011

Stadium with GBP 23 million in revenue for 1H/2011

UK-based EMS-provider Stadium Group reported revenue of GBP 23.30 milliion for the first half of 2011 (ended June 30, 2011).
Financial Highlights

• Revenues of GBP 23.20m (2010: GBP 23.13m)
• Profit before taxation up by 9% to GBP 1.58m (2010: GBP 1.45m)
• Earnings per share (from continuing operations) of 3.9p (2010: 3.9p)
• Balance sheet net cash of GBP 3.70m (31 Dec 2010: GBP 1.67m)
• Interim dividend up 10.5% to 1.05p (2010: 0.95p)

Other highlights

• Focus on organic growth in key markets with targeted acquisitions
• Divestment of surplus property in Chingford generated net cash proceeds of GBP 2.51m
• Closure of the final salary pension scheme to future accruals and net pension deficit reduced
• Appointment of Stephen Phipson as New Chief Executive to drive sustained growth
• Pipeline of future opportunities is expanding

Commenting on the outlook, Nick Brayshaw OBE, Chairman of Stadium Group plc, said:

“The appointment of Stephen Phipson as Chief Executive is ideally timed to capitalise on the wealth of exciting opportunities which exist to grow the business. The company’s strong balance sheet sees it ideally placed to grow both organically and through targeted acquisitions. The exposure to high growth, innovative sectors offers the chance to increase market share in our target sectors, and there are plans to invest in the middle management capability and to enhance the equipment base to underpin this growth.”
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