19th Jun 2007 07:01
Stadium Group PLC19 June 2007 Stadium Group Plc Pre-close trading update & Acquisition of Ferrus Power Limited Stadium Group Plc, the AIM-listed provider of Electronic Manufacturing Services,will announce interim results for the six months ending 30 June 2007 on Monday 3September 2007. Commenting on recent trading Chairman Nick Brayshaw said, "Sales and margins have continued to show improvement compared with thecorresponding period last year, and we remain confident of the outlook for theyear." On 15 June 2007, the company completed the acquisition of Ferrus Power Limited("Ferrus") for net cash consideration of approximately £670,000. Ferrus is a specialist designer and manufacturer of custom power converters andpower supplies for the medical, industrial, telecommunications and scientificinstrument markets from its base at Peterborough, Cambridgeshire. Turnover forthe financial year ended 31 October 2006 was approximately £1.3 million. Ferrus will complement the existing operations of Stadium Power, which designsand manufactures standard, semi-custom and custom power solutions in the UK andAsia. Stadium Chairman Nick Brayshaw said, "I am delighted to announce the further strengthening of our business in theworldwide power solutions market. We previously signalled our intention toinvest in this sector with the acquisition of KRP in 2006, which hassubsequently traded ahead of our expectations. Ferrus offers additionalcustomers, design and manufacturing capabilities and access to an extensivecomplementary range of custom products." Ferrus was previously in private ownership, and the vendors will continue to beemployed in the business. ENDS Stadium Group Plc Parkgreen Communications plcNigel Rogers, Chief Executive Paul McManusTel 01429 852 500 Tel 020 7479 7933 Mobile 07980 541 893www.stadium.co.uk [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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