MORE jobs and more business could be on the way at an ambitious electronics firm which has announced another set of promising results.
Senior officials at the Stadium group, which includes Stadium Electronics, in Brenda Road, Hartlepool, say there is “real opportunity” to invest further in the town plant.
The new company chief executive Stephen Phipson, who has joined Stadium from chemical specialists the Smiths Group, spoke for the first time about his plans for the future.
He said: “We have a good, solid financial base and the capacity to grow. Without significant investment, we can add more people, more contracts and fill our factories up.”
He said Stadium was already looking to target growth areas such as smart water metering where the Hartlepool plant could make the whole meter from start to finish and medical equipment where it could do the same.” Half year interim results, as reported in the Hartlepool Mail yesterday showed Stadium’s 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.
Locally, figures show Stadium Electronics performance went down slightly with revenues decreasing by two per cent from £21m last year to £20.7m this year. But bosses put that down to a blip caused by a cut in Government expenditure on a contract in the transport infrastructure field.
Company chairman Nick Brayshaw said: “The strong balance sheet sees the company ideally placed to grow both organically and through targeted acquisitions.”
A slowdown in demand within the UK and worldwide economy might take its toll in the second half of the year. But Mr Brayshaw said any weakness will be off-set by the introduction of the new key customer wins which were achieved during the first half of the year.