Unaudited interim results for the six months ended 30 June 2011
Stadium Group plc, the AIM listed provider of electronic manufacturing services (EMS) and power supplies, announces interim results for the six months ended 30 June 2011.
The principal activity of Stadium Group plc is the design and manufacture of electronic and power supply products for original equipment manufacturers from its manufacturing facilities in the UK and China. Stadium Group delivers high quality solutions to a diverse range of customers worldwide.
Financial Highlights
• Revenues of £23.20m (2010: £23.13m)
• Profit before taxation up by 9% to £1.58m (2010: £1.45m)
• Earnings per share (from continuing operations) of 3.9p (2010: 3.9p)
• Balance sheet net cash of £3.70m (31 Dec 2010: £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 £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.”
For further information please contact:
Stadium Group plc
Nick Brayshaw, Chairman
Tel: 01429 852500
Walbrook PR
Paul McManus – Mob: 07980 541 893 or paul.mcmanus@walbrookpr.com
Paul Cornelius – Tel: 020 7933 8780 – Mob: 07827 879 460 or paul.cornelius@walbrookir.com
Brewin Dolphin Investment Banking
Mark Brady – Tel: 0845 213 4729
Nick Owen – Tel: 0845 059 6412