ELECTRONICS group today Stadium warned that its full year results would be “significantly below” the market’s current expectations.
The Hartlepool business, which employs mroe than 1,000 staff worldwide, said there had been a “further softening in demand” and that second half sales and profits would be below those reported in the first half.
The company said the sale of its property in Hong Kong is progressing and it expects to complete the transaction by the end of the year. It will bring in £3m in cash and a £2.2m exceptional profit, ahead of earlier expectations.
Stadium’s sales for the 12 months to December last year were flat at £44.94m but pre-tax profits rose 38% to £3.96m.