Stadium set for growth
Electronics group Stadium this morning cheered last year’s decision to offload its plastics division with a 95% surge in profits and a 27% climb in annual revenues to £44.81m.
The AIM-listed Hartlepool firm reported on the year ending 31 December 2010, a period in which it disposed of its non-core plastics business to focus on the high growth potential of its electronics markets.
The company, which saw profits jump from £1.47m to £2.87m during the period, also said chief executive Nigel Rogers would not stand for re-election at AGM in April and would be replaced by new executive to drive the growth of the business.
Commenting on outlook, chairman Nick Brayshaw said: **“**We remain optimistic that continued growth will be achieved from existing products and customers, and will continue to win new business to increase our market share as the key to future success.
“The company now has a clear focus on core electronics activities, and a strategy has been set out to continue to deliver strong organic growth. This is driven by the delivery of premium manufacturing and engineering services to a base of long term business partners.”
This was posted in Bdaily's Members' News section by Ruth Mitchell .
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