Stadium Group Plc – Trading update & Notice of Results

Stadium Group Plc – Trading update & Notice of Results

Stadium Group Plc, a leading provider of Electronic Manufacturing Services ("EMS") and Power solutions, provides the following trading update.
 
The strong trading performance reported in the interim financial statements has continued through the second half of the year, consistent with the directors' expectations.  Provisional (unaudited) information for the full year indicates that turnover at constant rates of foreign currency exchange increased by approximately 25% compared with the prior year, and that year end net cash balances stood at approximately £1.5m.
 
During the financial year the Group disposed of its non-core plastics business for net cash proceeds of £2.42m, and earmarked for disposal surplus freehold property with a net book amount of £2.04m.  Following this transaction, the Group is now focused entirely on activities in the high growth electronics sector, providing design, product engineering and manufacturing solutions.
 
The Board remain confident of the prospects for continued organic growth from these operations, both in the UK and Asia, and additionally will seek to make further acquisitions of complementary businesses in the sector if suitable opportunities present themselves.
 
Preliminary results for the full year ended 31 December 2010 will be announced on Wednesday 9 March 2011

No Comments

Post a Comment