Electronics firm powers ahead

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AN electronics company today revealed an increase in profits and revealed plans to expand further.

The Stadium Group, which includes Stadium Electronics in Brenda Road, Hartlepool, has unveiled its interim results for the first six months of this year.

Profits before tax rose by nine per cent from £1.4m in June 2010 to £1.5m this June, and revenues by £800,000 to £23.2m.

The group employs 100 people in Hartlepool and 1,000 around the world.

Company chairman Nick Brayshaw said the results came at a time when Stephen Phipson had just been appointed as the new chief executive.

Mr Brayshaw added: “His appointment is ideally timed to capitalise on the wealth of exciting opportunities which exist to grow the business.”

He said the company’s strong balance sheet meant it could look to acquire more companies.