Stadium Group (AIM:SDM) - results much as anticipated and outlook promising
The AIM quoted electronic technologies group announced decent results for the year ending 31 December 2014 suggesting significant progress is being made following the major restructuring programme that began two years ago.
Revenues were £41.7m (2013: £42.2m), normalised profit before tax increased to £2.7m (2013: £1.9m), up 45% on prior year with statutory profit before tax £1.8m (2013: £0.4m). Adjusted earnings per share of 7.8p was up 47% on prior year and in line with broker forecasts.
Reduced revenue from iEMS of £27.7m (2013: £33.5m) was offset by increased revenue from the Technology Products division, where sales increased to £14.0m (2013: £8.7m). This improved sales mix expanded…
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