5th Jul 2012 07:00
Stadium Group Plc
("Stadium" of the "Company")
Trading update
Stadium Group Plc (AIM: SDM), a leading electronic technologies group, provides the following pre-close trading update for the six months ended 30 June 2012.
Trading for the six months ended 30 June 2012 was broadly in line with the expectations outlined in the recent AGM statement. As anticipated, sales were below that reported for the same period last year due to the underlying economic environment and the impact of the Company's decision to withdraw from a number of low margin legacy contracts. The consequent impact upon profits has been partially offset by a number of important new business wins and continuing cost reduction activity.
We expect the second half of 2012 to see the full benefit of H1 business wins and further progress with operational improvements in overheads, factory efficiency and most significantly in procurement; taken together, substantially offsetting the impact of any reduced underlying revenues. In addition the Company is currently undertaking pre-production trials for two significant contracts for programmes that are planned to commence in Q4 of 2012. The outcome of these trials will be known in Q3.
The Company also continues to pursue a number of potential acquisitions that complement the current activities which should enhance shareholder value over the medium-term.
Stadium will announce its financial results for the six months ended 30 June 2012 on Tuesday, 4 September 2012.
Enquiries:
Stadium Group plc | www.stadium-plc.com |
Stephen Phipson, Chief Executive Officer | Tel: 01429 852 500 or Mob: 07920 760 807 |
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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 Brewin |
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Nick Tulloch | Tel: 0131 529 0356 or Mob: 07990 804 436 |
Richard Lindley | Tel: 0113 241 0126 or Mob: 07947 730 580 |
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Stadium Group PLC