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Stadium Group

  • BY: Andrew Hore |
  • POSTED: 05/05/2013 |

Stephen Phipson has stepped down as chief executive of electronic products and displays manufacturer Stadium Group. 

This is a surprise but there is no apparent reason to change expectations. House broker N+1 Singer still forecasts a recovery in underlying profit from £1.4m to £2.5m.That is based on a much stronger second half after lower interim figures. A cut in the dividend from 2.8p a share to 2.1p a share is forecast. A small cash outflow is forecast but net debt should be minimal.

Phipson is taking up a government post at the Home Office. He will be replaced by chief operating officer Charlie Peppiatt, who worked with Phipson at Laird as well as Stadium.

The electronic equipment manufacturing sector remains tough with the power systems and displays operations performing steadily.

At 45p a share, Stadium is valued at £13.4m. The hares are trading on eight times prospective 2013 earnings.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2013_43.pdf

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