Member Article

Profits up at Hartlepool technology firm Stadium Group

Stadium Group has reported a pretax profit of £900k for the last six months, an increase of £500k from this point last year.

The technology firm has reported a dip in revenue to £19.8 million from £21.4 million at this stage in 2013.

The firm’s Technology Products group has reported sales growth of 24% in this period, with the order book increasing 50% as a result of new business wins.

In July, the firm acquired United Wireless Ltd, renaming the business Stadium United Wireless Ltd, allowing the firm become more established in the wireless devices market a.

The firm’s gross margins improved from 20% to 20.06%, with positive factors including a sales mix shift to Power Products and increased operational efficiencies in iEMS, resulting from the recent reorganisation activity.

These improvements were partially offset by investments to provide future scale in the Power business, a change in mix within the Interface and Displays business, and on-going pricing pressures in iEMS.

Stadium Group chairman Nick Brayshaw OBE said: “I am delighted to report that in the first half of 2014 Stadium has delivered results in line with our expectations, with order books and profits materially up. At the start of 2014, we committed to a number of key strategic initiatives - growing the Technology Products businesses; investing in upgrading the production facilities; developing our senior management capability; driving operational improvements; and continuing the focus on strategically enhancing acquisitions. I am pleased to report that we have made significant progress on all of these key initiatives.

“The outlook for the full year remains in line with our expectations, with the second half of the year predicted to be stronger than the first half. The strengthening order book and the progressive success of our integrated sales strategy continue to drive this improvement in performance. Overall, we remain confident for the prospects for the full year.”

This was posted in Bdaily's Members' News section by Ellen Forster .