A HARTLEPOOL-BASED company has announced an improvement in profits.
Stadium Electronics say the restructuring programme they carried out last year is starting to pay off.
The company issued a trading update this morning and said Stadium’s performance in 2013 was in line with the board’s expectations.
Bosses said “the second half of the year delivered significantly improved profits as the benefits of the recent restructuring programme have started to come through.”
The full detail of the performance will not be known until March when Stadium’s preliminary results are known.
But it was only last autumn that the company announced its Brenda Road plant in Hartlepool was to become its focus for the company’s future investment.
Bosses say the move comes at a time when Stadium was re-aligning its commercial arm to grow the firm further.
They said the 6,000 square metre Hartlepool plant was still at only about 60 per cent of its capacity but there was a planned ramp-up of activities at the site.
A major re-shaping of the company has included the closure of the Rugby office. Much of the work from that site was transferred to Hartlepool where workforce numbers have risen to 150 in recent months.
Executives said previously that Hartlepool accounted for 24 to 25 per cent of the group’s turnover but that was expected to rise to 36 to 37 per cent.
Stadium provides electronic technologies to markets which include the industrial, marine, aviation, transport infrastructure, lighting, medical, automotive, and communication sectors.