On target for success

BOSSES at an electronics company are predicting a strong finish to the year after revealing how their operating plans were taking effect.

The Hartlepool-based Stadium Group held its annual meeting yesterday in London and reported a first half of the year with mixed fortunes.

Its power business is performing well but the electronics sector is suffering from slower progress because of weak market conditions, said a spokesman.

But there were signs of better times ahead in the electronics section because Stadium had made their plants more efficient.

They were also renegotiating old contracts which had poor margins.

The spokesman said: “Overall, first half trading will be lower than the equivalent period last year and within our expectations.”

He said the company’s board remained “confident about the overall group performance for 2012”.

Stadium’s annual results were released last month. They showed that the Brenda Road-based plant had a 38 per cent profit rise before tax to £3.9m, compared to £2.8m the year before.

One hundred people now work at the Hartlepool site with 80 on the shop floor, handling work from clients in sectors including controls for stairlifts, smart water meters and LED-based lighting and signs.

Chief executive Stephen Phipson revealed to the Hartlepool Mail earlier this week that the town plant had the capacity to handle more work, especially in hi-tech areas such as LED lighting.

Stadium’s future will also include bids for other firms, where Stadium can take on their business and produce them in factories including Hartlepool, said Mr Phipson.