Stadium Group plc, the AIM listed provider of electronic manufacturing services (EMS), announces interim results for the six months ended 30 June 2009. The group has delivered profits before taxation and reorganisation costs in excess of £1 million, significantly reduced its underlying cost base, generated strong operating cash flows, and closed the period in robust financial condition with bank gearing of just 6.5%. Overall, the board considers the results to be satisfactory.
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, primarily operating in the consumer, industrial, medical and personal care, and automotive sectors.
Highlights
- • Revenues at £22.34m (2008: £23.06m)
- • Profit before tax £0.88m after reorganisation costs of £0.16m (2008: £1.40m)
- • Strong operating cash flow of £1.45m (2008: 1.39m)
- • Net bank borrowings reduced to £0.69m (31 December 2008: £2.09m)
- • Significant new business wins in pipeline
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