Stadium profits soar as demand rebounds

2nd Sep 2010 09:36

Electronics manufacturer Stadium saw a sharp rise in revenues and profits in the year to June 30 as demand rebounded following the downturn of 2008 to 2009.Pre-tax profits climbed to £1.45m from £66,000 on revenues that climbed to £23.13m from £16.83m.Stadium manufactures electronic products in the UK and China and concentrates on the green technology, security, transport, medical and LED markets. Among the activities it has been involved in is the manufacturing of a device for pairing mothers and newborn babies in hospitals and a system to prevent door malfunctions in trains. Its main market is the UK, with mainland Europe, the Americas, Asia and Australia accounting for most of its other sales. 'The group benefited from broad recovery in customer demand across most industrial and geographical segments, and increased market share through further new business wins in key target markets,' chairman Nick Brayshaw said.'The strength and speed of recovery since early 2009 demonstrates that Stadium continues to be a robust and reliable business partner.'Stadium offloaded its plastics business in June for £2.5m in order to concentrate on its electronics business, giving it strong firepower to embark on acquisitions.Chief executive Nigel Rogers explained that the company was in no rush to hit the acquisition trail, but was on the lookout for attractive purchases. He said the company would be interested in acquiring companies in the UK and in Central or Eastern Europe, which would give it another entry point to the whole of Europe. Sales into Europe currently come from its manufacturing activities in China.