AN electronics company has revealed some positive results after strengthening its presence in Hartlepool.
Stadium Group has posted an adjusted profit before tax of £1.8m for 2013, which was up £400,000 on the previous year. Its revenue rose to £42.2m which was an increase of £1.3m on 2012.
The end-of-year results come after Stadium carried out a significant re-organisation last year.
It included the closure of the office in Rugby with work being transferred to Hartlepool where workforce numbers rose to 150.
Company chairman Nick Brayshaw said: “The business has undergone significant organisational change both in its UK and Asian operations and the leadership team has been strengthened with the recruitment of a number of experienced senior managers.
“The group is now in a much stronger position with a business model and structure to support focused growth and drive further operational improvements.
“We have made a solid start to the new financial year, demonstrating the benefits from our self-help and restructuring activities.”
Mr Brayshaw said a new-look approach to sales was also yielding positive results and was “delivering new business from both existing and new customers. Consequently we continue to anticipate an improving trading performance as we progress through 2014.”
Stadium provides electronic technologies to markets which include the industrial, marine, aviation, transport infrastructure, lighting, medical, automotive, and communication sectors.
Mr Brayshaw said the integrated electronic manufacturing service, which the Hartlepool base deals with, was operating in a difficult and demanding market.
But he added: “We are encouraged with the level of growth we are seeing with our existing customers, especially in identified growth sectors such as lighting, security and emerging technologies.”