Hats off to the management of Stadium Group.
The main board of Stadium Group, the AIM listed provider of electronic manufacturing services, has set the example for others to follow by agreeing to a 20% per cent cut in pay, twice the level of cut borne by other staff. Bankers, please read on....
The principal activity of Stadium is the design and manufacture of electronic and power supply products for original equipment manufacturers from its manufacturing facilities in the UK and China.
The group delivered profits before taxation and reorganisation costs in excess of £1 million, significantly reduced its underlying cost base, generated strong operating cash flows, and closed the period in robust financial condition with bank gearing of just 6.5%.
Top line revenues were £22.34m (2008:…
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