Member Article

Hartlepool electronics firm reports encouraging figures

Hartlepool electronics manufacturer Stadium Group have reported pre-tax profit of 38%, despite weak demand in the tail end of 2011, continuing into 2012.

Revenues at the firm remained relatively flat at £44.94m in 2011, from £44.81m in 2010.

Stadium had made significant changes to operation in 2011, including the appointment of new chief executive Stephen Phipson CBE, investment in improving operations and commercial management teams, and the deployment of a defined strategy to move the Group towards the design and manufacture of electronic subsystems.

Commenting on outlook, Chairman Nick Brayshaw OBE said, “While the weakness in demand experienced towards the end of 2011 has continued into the start of 2012, there has been a good deal of success in converting opportunities into new business wins.

“In addition, the focus on operational improvement in areas such as overheads, purchasing and factory efficiencies has yielded significant benefits which will be realised during the remainder of the year.

“Consequently the Board remains confident about the overall group performance for 2012.”

This was posted in Bdaily's Members' News section by Tom Keighley .