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Stadium eyes green future

Electronics manufacturer Stadium Group yesterday said it was over the worst of the downturn as it targets future growth in the green technology sector - despite announcing a slight dip in turnover.

The North East firm, which employs 100 people in Hartlepool as well as 1,000 in the Far East, said its turnover had fallen from £49.61m to £46.8m in the year to December 2009.

However, the company said the wage adjustments and staff cutbacks it made at the start of the year had put in a strong position to return to growth in the year ahead.

Chief executive Nigel Rogers said: “We are certainly over the worst. There’s no question about that. Our workforce in Hartlepool grew in the second half of the year and if we can continue to grow our sales then there will be further job creation.

“I think the climate change agenda is driving new business. There’s a lot of activity in designing new electronic products.”

Last year the company implemented a temporary wage cut, including 20% among its board members. Fortunately for its workforce, Mr Rogers says wages have now returned to normal levels.

He also said manufacturing in the UK was becoming increasingly attractive.

“Far East outsourcing remains a compelling strategy for a wide range of companies and continues to offer a significantly lower cost base.

“Meanwhile the proposition for UK manufacturing is improving as customers seek to shorten new product introduction timescales, reduce production lead times and minimise working capital investment.”

Looking forward the company said it expected to create new jobs, and growth through acquisition, on the back of new green technologies.

This was posted in Bdaily's Members' News section by Ruth Mitchell .