More growth for electronics firm

AN electronics firm has revised its predictions to predict more growth.

Stadium Electronics, which is based in Brenda Road in Hartlepool, said reported profits are likely to be higher than the £3m-plus originally predicted.

But in the short term, there may be a slight fall in profits because of hold-ups on contracts with some customers, and internal investment.

Despite that, new predictions show there are already signs that Stadium is likely to feel the benefit of all this in the new year.

And experts have revised their predicted profit statements to have Stadium looking at a profit before tax next year of £3.5m rather than the previous estimate of £3.3m.

A spokesman said: “Results for 2011 will be significantly ahead of market expectations as a consequence of a reduction in the group’s pension liabilities following a series of one-off benefits.”

He said there were “early signs of momentum” thanks to Stadium winning more contracts

“These benefits are expected to accelerate in the next 12 months.”

Just weeks ago, the new company chief executive Stephen Phipson said Stadium had a “good, solid financial base and the capacity to grow.”

He said more people and more contracts could be on the way.

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.”