Stadium Group, a leading supplier of wireless solutions, power products, human machine interface solutions and electronics assemblies, has announced financial results for the year ended 31 December 2016.
• Statutory reported profit before tax up 29% to £2.2m (2015: £1.7m)
• Year end order book up 36% to £25.8m (2015: £19.0m) underpinned by Technology Products growth
During 2016, Stadium further developed the transition of the Group’s operating model to a high growth technology business to deliver a customer-focused, design-led technology proposition supported by strategically located regional design centres, manufacturing centres of excellence and regional fulfilment centres, providing organic growth across the Group.
To complement existing regional design centres in Shanghai, Southampton and Norwich, Stadium opened a fourth design centre in 2016, located at the Kista Science City in Stockholm, Sweden, which has been particularly successful and has become the cornerstone of the Group’s wireless design activity, as well as a hub for the Group’s research and development (R&D) activities. Stadium is now increasingly recognised by customers as a reliable design-led technology partner across the UK, North America and Europe.
Following the successful upgrade and relocation to a new facility at the company’s manufacturing centre of excellence in Asia in 2015, Stadium consolidated its European manufacturing footprint from four separate locations into two main manufacturing centres of excellence at Hartlepool and Southampton in the UK. At the same time, the company expanded and upgraded its facility in Reading to become the distribution centre for Europe and also completed the successful move to a new distribution and logistics centre in Kowloon, Hong Kong to service the APAC region. During the year the Group’s registered head office was moved from Hartlepool to Reading.
During the period the decision was taken to establish Stadium Group Inc. to increase the company’s ability to support the development of activities in North America. This is underpinned by a growing number of new business opportunities for the company’s design-led technology solutions, from both existing and new customers in this region.
“The prospects for the Group are very positive and we believe that our operating model will allow us to deliver accelerated growth in 2017. Our capability has been further enhanced by the establishment of Stadium Group Inc. which has strengthened our presence in North America,” commented Charlie Peppiatt, Chief Executive Officer at Stadium Group. “Our record year-end order book at £25.8m, up 36% on the previous year-end, continues to rise. Our offering of complementary electronic technologies and specialist 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 and beyond.”
For more detailed financial information, the Chairman’s statement and Chief Executive’s review, please click here