Electronics firm Stadium Group plc (LON:SDM) has reported robust growth in full-year profits as its order book grew strongly, underpinned by Technology Products growth.
The group - a leading supplier of wireless solutions, power supplies, interface displays and electronic assemblies – saw its pretax profits jump by 29% to £2.2mln for the year ended December 31, up from £1.7mln in 2015, even though its revenues dipped to £53.1mln from £53.9mln.
Stadium said sales for its Technology Products were up 18.1% to £31.9mln, representing 60.1% of group sales, while Electronic Assemblies sales fell 21.1% to £21.2mln.
WATCH: Stadium eyes accelerated growth ...
The firm said its year-end order book was up 36% to £25.8mln, from £19.0mln, bolstered by the Technology Products division growth.
The group saw its net debt improve to £3.3mln at the year-end, down from £4.7mln in 2015, with cash in the bank of £4.6mln.
Divi delight …
Stadium hiked its final dividend to 1.95p per share, up from 1.8p a year earlier, giving total 2016 dividends of 2.9p per share, up 7.4% on 2015’s 2.7p.
Stadium’s chairman, Nick Brayshaw said: “We are very excited about the prospects for the Group and believe that our operating model focused around strategically located regional design centres, manufacturing centres of excellence and regional fulfilment centres will allow us to deliver accelerated growth in 2017.”
READ: Our big picture analysis of Stadium Group ….
He added: “Our order book at the year-end was at record levels, up 36% on the previous year end at £25.8m. Our offering of complementary electronic technologies and design-focused engineering expertise is proving very attractive to current, previous and new customers, and this growing demand gives us confidence in the outlook for 2017, which has started positively."