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Pretax profits up 29% at Hartlepool power supplier Stadium Group

Hartlepool-based Stadium Group has revealed a 29% pretax profit increase this morning, announcing its annual results for 2016.

The supplier of wireless solutions, power supplies, interface displays and electronic assemblies, saw revenues remain steady, reporting a slight decline on 2015 from £53.9m to £53.1m.

Pretax profits, however, significantly increased with the firm reporting a 29% rise frome £1.7m to £2.2m.

2016 saw the company’s Electronic Assemblies sales down 21.1% to £21.2m although its Technology Products sales did rise by 18.1% to £31.9m.

Nick Brayshaw OBE, Chairman, said: “We are very excited about the prospects for the Group and believe that our operating model focused around strategically located regional design centres, manufacturing centres of excellence and regional fulfilment centres will allow us to deliver accelerated growth in 2017.

“Our order book at the year-end was at record levels, up 36% on the previous year end at £25.8m.

“Our offering of complementary electronic technologies and design-focused engineering expertise is proving very attractive to current, previous and new customers, and this growing demand gives us confidence in the outlook for 2017, which has started positively.”

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