Stadium trading in line with expectations, buys cable manufacturer

12th Jan 2017 09:54

(ShareCast News) - Stadium Group, a supplier of wireless solutions, power supplies and electronic assemblies, traded broadly in line with market expectations last year thanks to growth in the technology products business, while it has also recently made an acquisition.The contribution from the higher margin technology products businesses continued to grow in line with expectations as it contributed about 60% of total revenue for the year ended 31 December.The company's order book grew, though it did not say by how much, as the company transitioned to a design-led technology solutions business. Net debt stood at £3.5m at the end of December.Meanwhile, on Stadium revealed that on Wednesday it bought Cable Power, a specialist manufacturer of bespoke cable and power products and accessories to single board computing providers, for £750,000. For the year ended 31 December, Cable Power generated revenue of about £700,000 and profit before interest and tax of about £100,000.Colchester-based Cable Power's customers include RS Components, Rapid Electronics, Farnell, CPC and Raspberry Pi, with whom it has exclusive deal for several accessories, including HDMI cables, power connectors and other accessory bundles.Cable Power will join Stadium's power division, Stadium Stontronics, which is the only approved external power supply manufacturer for the Raspberry Pi3.Chief executive Charlie Peppiatt expressed confidence about the outlook for 2017 and beyond, and on the acquisition said: "Bringing together the expertise of Cable Power and Stontronics places Stadium Group in a unique position to offer a highly compelling exclusively approved 'one-stop-shop' solution for the single board computer sector."Shares in Stadium Group were up 2.94% to 84.41p at 1110 GMT.