Contract electronics manufacturer Stadium Group says that first half trading was broadly in line with expectations but sales will be lower than in the first half of 2011.
Stadium has been shedding low margin work and newer work has helped to offset the loss of profits. Efficiency improvements secured by operations director Charlie Peppiatt will show through in the second half. Two significant contracts are due to start in the fourth quarter.
That means that profit will be even more second half weighted than previously. N+1 Brewin expects the interims to contribute around 25% of full year profit.
Analysts forecast a full year profit of £3.2m-£3.5m.
The interim figures will be published on 4 September.
At 62.5p a share, Stadium is valued at £18.4m.
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