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Stadium Group
- BY: Andrew Hore |
- POSTED: 19/04/2012 |
- COMMENTS: Add yours
Contract electronics manufacturer Stadium Group says that a weak first half means that 2012 will be second half weighted.
The interim figures will be lower than last year. The share price fell 6p to 79.5p a share on the news, which values Stadium at £23.4m.
House broker N+1 Brewin believes that the second half will contribute three-quarters of the revenues for 2012. It has shaved its turnover estimate by £2m but costs savings mean that the profit figure is unchanged at £3.5m. That means that the shares are trading on less than nine times 2012 prospective earnings.
Stadium is winding down low margin contracts and the contract manufacturing business is expected to be weak for the year as a whole. In contrast to the manufacturing operations, the power division is trading well.
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