Electronics firm Stadium Group plc (LON:SDM) has enjoyed a strong first half of 2017, with revenues and the order book both growing.
In the six months to the end of June, Stadium said trading was ahead of the same period last year and in line with expectations, while the order book jumped once again to above £28mln, up from £25.8mln at the end of 2016.
“Consequently, the board remains confident about delivering further positive progress in the current year,” the AIM-quoted group said in this morning’s update.
READ: Stadium surges as order book rises
Stadium – which has two divisions; technology products and electronic assemblies – will announce its financial results for the six months ended 30 June 2017 on Tuesday 5 September.
Shares remain 'inexpensive'
“Stadium has released a positive and encouraging update, confirming that the group remains on track to achieve forecasts which imply 26% growth in profit before tax,” said N+1 Singer analyst Jon Lienard.
“In addition, the order book has again grown strongly which supports the ongoing growth story. The shares have recovered somewhat in recent months but remain inexpensive in our view.”
Lienard is forecasting an adjusted profit before tax of £7.1mln in 2017 (2016: £5.7mln) on full-year revenues of £62mln (2016: £53.1mln).
Shares were 1.5% lower in early afternoon trading at 131p.
--Updates for broker comment and share price--