Stadium issues profit warning

Shares in Stadium dropped over 24 per cent on Friday after the electronic technologies group warned its full year results will be significantly below current market expectations.

Shares in Stadium dropped over 24 per cent on Friday after the electronic technologies group warned its full year results will be significantly below current market expectations.

The firm said recent trading has shown a further softening in demand, and as a result the group now expects revenue and normalised profit before taxation for the second half of the year to be below those reported in the first half.

In a statement the company said: "In light of the particularly challenging conditions in the EMS business we are currently evaluating options to ensure that this area remains profitable, competitive and able to provide an improved level of service to its customers. These options include reviewing existing capacity in the UK, and reducing fixed operational costs in the UK and Asia.

"Our investment in Power and Display technologies together with the review of the company's cost base, underpins the board's confidence of an improved performance in 2013."

The company also said that its Stadium Power business has continued to perform well despite the challenging market conditions and will deliver similar revenues and operating profit to that achieved during 2011.

NR

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
6 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

Best savings accounts – February 2023
Savings

Best savings accounts – February 2023

Interest rates on cash savings are making a comeback. We look at the best savings accounts on the market now
6 Feb 2023
The best one-year fixed savings accounts - February 2023
Savings

The best one-year fixed savings accounts - February 2023

Earn almost 5% on one-year fixed savings accounts.
6 Feb 2023
Share tips of the week – 3 February 2023
Investments

Share tips of the week – 3 February 2023

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages
3 Feb 2023