CIE Components in Electronics
Stadium Group’s transformation over the past two years into a cohesive group of interrelated design-led technology businesses providing power products, HMI Interface and displays, M2M wireless systems and integrated Electronic Manufacturing Services (iEMS) is delivering success.
Just announced unaudited preliminary results for the year ended 31st December 2014 show revenues of £41.7m with strong growth in technology products. Other financial headlines include increased normalised operating profit margin of 7.6%, normalised profit before tax (after adjusting for non-recurring reorganisation spend and amortisation of acquired intangibles) increased to £2.7m, up 45% on 2013 and a strong cash conversion of 109% of operating profit. Statutory earnings per share are 4.8p, with a final dividend proposed of 1.4p per share (2013: 0.75p) and total dividends up 75% to 2.1p per share (2013: 1.2p).
Key events in the last 12 months contributing to Stadium Group’s performance include strengthened global leadership and technical capability, development of the Technology Products and iEMS Divisions, acquisition of Stadium United Wireless (SUW) in July 2014 and strong growth in order book of >50%.
2015 has already seen the establishment of Stadium’s first Regional Design Centre in Norwich as a stand-alone facility for the development of power products and their China factory is scheduled to be relocated and upgraded by July 2015
Commenting on the results and outlook, Charlie Peppiatt, CEO of Stadium Group, said: “With the Group’s new divisional operating structure of Technology Products and Integrated EMS, we are now well placed to take advantage of the growth markets in which we operate, in addition to driving further operational efficiencies. Furthermore, the recent acquisition of Stadium United Wireless positions us extremely well to capitalise on the growing demand for wireless connectivity solutions. As the business moves forward during the coming year, we anticipate the growing Technology Products division will generate approximately 50% of Group revenues, supported by the modernised global manufacturing facilities within the iEMS division.
“This is an exciting period for Stadium, and we have made positive progress against our strategic targets. We have continued to deliver improving results on the back of profitable and sustainable organic growth, with the addition of value accretive acquisitions. The initial months of 2015 have seen an encouraging start to the year, with the order book and revenues ahead of the comparable period of last year. We expect this improvement to continue going forward and therefore remain confident about the prospects for the current year and beyond.”
Copies of the audited financial statements will be sent to all shareholders shortly and will be available at www.stadium-plc.com
