Member Article

Strong first half for Hartlepool technology company Stadium Group

Hartlepool-headquartered technology company Stadium Group Plc has reported a 54.2% rise in pretax profits to £1.4m, up from £0.9m, reflecting a strong first half for the company.

Announcing its unaudited interim results for the six months ended 30 June 2015 this morning, the group also saw revenues up 26.9% from £19.8m to £25.1m.

The company’s Technology Products division accounted for 44% of total revenues, with Technology Products up 118.8% to £11.0m.

Stadium Group’s acquisition of United Wireless has been a chief contributing factor to its strong technology sales, as Stadium Group continues to pride itself as a technology led business.

As part of enlarged integrated offering, Stadium United Wireless sales were up 26.2% to £5.3m.

Nick Brayshaw OBE, Chairman, said: “The Group continued to perform strongly in the first half of the year and is trading in line with our expectations.

“The period saw us make significant progress with our strategic objective to transition Stadium from a traditional electronic manufacturing service business to an integrated technology-led organisation.

“We are pleased to have grown revenues whilst delivering a greatly increased proportion of higher value and higher margin Technology Products sales, which confirms the strengthening of our Technology Products offering.

“With the evolution of our three regional design centres, upgraded Asia facility, expanding market for wireless, and the acquisition of Stontronics after the period end, we are excited about the future prospects of the business. We are pleased to see progressive growth in our order book for Technology Products, which underpins our confidence in the full year outlook.”