The Hartlepool-headquartered Stadium Group plc says it remains on track to hit 2014 targets after interim results for the first six months showed it had made significant progress on all its key initiatives.
In the half-year ended June 30, the electronic technologies group grew reported profit before tax to £0.8m. During the first six months of the previous year, the group had failed to make a profit.
Stadium’s proposed interim dividend, meanwhile, now lies at 0.7p per share, an increase of 55% on the same period in 2013.
And, while revenues slipped from £21.4m to £19.8m, there was a 24% increase in sales within the Technology Products businesses.
The order book was likewise strengthened in this area, rising 50%.
During the period, Stadium likewise upgraded its facilities to support further growth and acquired United Wireless in July to enter the high growth M2M market.
Stadium chairman Nick Brayshaw OBE said: “I am delighted to report that in the first half of 2014 Stadium has delivered results in line with our expectations, with order books and profits materially up.
“At the start of 2014, we committed to a number of key strategic initiatives - growing the Technology Products businesses; investing in upgrading the production facilities; developing our senior management capability; driving operational improvements; and continuing the focus on strategically enhancing acquisitions.
“I am pleased to report that we have made significant progress on all of these key initiatives.
“The outlook for the full year remains in line with our expectations, with the second half of the year predicted to be stronger than the first half.
“The strengthening order book and the progressive success of our integrated sales strategy continue to drive this improvement in performance. Overall, we remain confident for the prospects for the full year.”