6th Feb 2013 07:00
Stadium Group Plc
("Stadium" the "Company")
Notice of Results & Confirmation of Strategic Review
Stadium Group Plc (AIM: SDM), a leading electronic technologies group, announces that trading for the year ended 31 December 2012 will be in line with the Board's expectations, and that the preliminary results will be announced on Tuesday, 12 March 2013.
Further to previous announcements, the Board has also completed its strategic review of the UK EMS operations, where the Company has underutilised manufacturing capacity. Faced with the prevailing difficult market conditions in this sector, and after extensive consultation with employees, the Company announces the closure of the Rugby facility and the transfer of production to Hartlepool and Asia. It is anticipated that this initiative will significantly improve Stadium's overall competitiveness in the EMS market.
The costs associated with this closure will largely be provided for in 2012, with the balance falling in 2013. The closure costs are expected to be recovered in lower operating costs during 2013 and 2014.
Analyst and media briefings will be held on Tuesday, 12 March 2013, for more details please contact Walbrook PR.
Enquiries:
Stadium Group plc | www.stadium-plc.com |
Stephen Phipson, Chief Executive Officer | Tel: 01429 852 500 or Mob: 07920 760 807 |
Joanne Estell, Finance Director | Mob: 07807 095419 |
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Walbrook PR | Tel: 020 7933 8780 |
Paul McManus | [email protected] or Mob: 07980 541 893 |
Paul Cornelius | [email protected] or Mob: 07886 384 707 |
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N+1 Singer |
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Sandy Fraser | |
Richard Lindley | Tel: 0113 388 4789 or Mob: 07947 730 580 |
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