Electronics Production |
Stadium increase profit 19%
UK based EMS provider Stadium Group has announced a 19% increase in profit before taxation and sale of property to £1.24m (2006: £1.04m) for the six months ended 30 June 2007.
Revenue growth 4% (11% at constant currency) to £19.88m (2006: £19.18m). Gross margin improved by 1.6% to 22.9% (2006: 21.3%). Operating profit growth 21% (34% at constant currency) to £1.40m (2006: £1.15m). Interim dividend increased by 4% to 1.20p (2006: 1.15p). Cash flow from operations (before pension contributions and taxation) £2.00m (2006: £0.57m). Completed acquisition of Ferrus Power in June 2007.
“I am pleased to report a significant increase in profits and strong cash flows during a period in which underlying trading conditions have been somewhat challenging. “Customers and products added in the first half are expected to maintain their strong performance during the remainder of the year, and there are further opportunities in the pipeline. “We continue to invest in new capabilities, and enter higher added value sectors, and are confident that these initiatives will provide opportunities for future growth." *Nick Brayshaw, Chairman of Stadium Group plc, said.*
