News blog
Stadium Group
- BY: Andrew Hore |
- POSTED: 04/04/2011 |
Contract electronics manufacturer Stadium Group has made a profit on the sale of the property it retained when it disposed of its plastics subsidiary.
The north London property was in the books for £2.04m but it has been sold for £2.6m before costs.
Stadium will use £1.04m of the cash to reduce its pension deficit. The net pension deficit was £5.64m at the end of 2010.
Net cash was £1.67m at the end of 2010 so the pro forma figure will be nearer to £3m.
At 73.5p a share, Stadium is valued at £21.5m.
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