CONFIDENT bosses at a Hartlepool electronics firm are predicting an healthy year ahead.
Stadium has announced strong annual results which show a huge 38 per cent rise in profit before tax to £3.9m, compared to £2.8m the year before.
Central to that was the performance of the town‘s Brenda Road electronics plant.
Chief executive Stephen Phipson said: “We have been centering most of the business in Hartlepool, putting our procurement, purchasing and engineering together in the facility. It becomes the hub of the business.”
He said Stadium was looking at a combination of new customers and new products to drive the firm forward and much of that would be down to the 120-strong workforce in Brenda Road.
“We are not on a big expansion programme”, said Mr Phipson.
“But our new technology products are quite interesting.”
He said hi-tech markets such as LED lighting and smart metering could be a growth area, even though they were still “in their infancy”.
The financial year figures also show Stadium’s revenue was steady at £44m, just like last year.
Bosses say they are benefiting from a change in outlook which saw Stadium thinking more on worldwide operating terms instead of spotlighting specific locations.
“The previous Stadium operated each plant individually. We are quite a small business, but we pulled that together as one team.”
Stadium is looking for further growth and management say that could be possible in the hi-tech markets.
“We are at the beginning of that revolution,” said Mr Phipson.
“I like the idea of these new markets such as smart metering and LED.”
He described the last 12 months as “a year of change and really some quite interesting changes as we pull it all together, and the Hartlepool facility should be in a solid position going forward”.
Chairman Nick Brayshaw said the financial year figures could be merely the start of better times ahead for Stadium, especially as last year ended against a struggling economy.
He added: “While the weakness in demand experienced towards the end of 2011 has continued, there has been a good deal of success in converting opportunities into new business wins.”