© adam121 Electronics Production | September 09, 2015

Stadium Group's revenues climb 26.9% during H115

UK-based electronics group Stadium Group saw its revenues increase by 26.9 % during the first half of 2015 compared to the first half last year.
Commenting on the first half performance, Chairman Nick Brayshaw OBE said: "The Group continued to perform strongly in the first half of the year and is trading in line with our expectations. The period saw us make significant progress with our strategic objective to transition Stadium from a traditional electronic manufacturing service business to an integrated technology-led organisation. We are pleased to have grown revenues whilst delivering a greatly increased proportion of higher value and higher margin Technology Products sales, which confirms the strengthening of our Technology Products offering.”
  • Revenues up 26.9% to GBP 25.1 million (H1 2014: GBP 19.8m).
  • Technology Products up 118.8% to GBP 11.0 million (H1 2014: GBP 5.04m).
  • Gross margins up 100 bps to 21.6% (H1 2014: 20.6%) driven by higher margin Technology Products sales.
  • Adjusted profit before tax up 54.2% to GBP 1.4 million (H1 2014: GBP 0.9m).
  • Reported profit before tax of GBP 0.7 million (H1 2014: GBP 0.8m).

Operational highlights
  • Technology Products division accounted for 44% of total revenues (H1 2014: 25%).
  • Stadium United Wireless sales up 26.2% to GBP 5.3 million as part of enlarged integrated offering.
  • Technology Products order book up 30.1% to GBP 15.5 million over 2014 year end.

"With the evolution of our three regional design centres, upgraded Asia facility, expanding market for wireless, and the acquisition of Stontronics after the period end, we are excited about the future prospects of the business. We are pleased to see progressive growth in our order book for Technology Products, which underpins our confidence in the full year outlook," Nick Brayshaw added.
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