ELECTRONICS business Stadium Group is looking forward to a stronger second half of the year, according to a report going to its AGM today.
The Hartlepool business, which employs around 1,200 staff working at its head office, Rugby, Norfolk and in China, said it is focused on phasing out or renegotiating old contracts with poor margins.
It reported a good start to the year in its power business and has signed a new distribution agreement an Asian manufacturer.
But it expects continued weak demand for its electronic manufacturing services business.
Stadium said: “Overall, first half trading will be lower than the equivalent period last year and within our expectations.
“The new customer contracts which were forecast to commence production in the second quarter and beyond are also on track and will further contribute to second half performance.
“Consequently, the board remains confident about the overall group performance for 2012.”
Last month, it reported revenues for the year to the end of December of £44.94m and a 38% rise - before exceptionals - in pre-tax profits to £3.96m.