HARTLEPOOL, UK -- Stadium Group reported preliminary 2013 revenues of £42.22 million, up 3% from 2012 on acquisitions. The pretax profit slipped 76% to £430,000 for the period ended Dec. 31.

Profits were down in part due to the consolidation of its UK EMS business and restructuring at its Asia operations, both of which are now completed.

Sales were up due to the full-year effect of the company's Interface and Displays acquisition (IGT), in September 2012. On a like for like basis, sales were down by 4.4%, pulled down in part by lagging EMS sales, which fell 3.5% in the second half.

In a press release, Chairman Nick Brayshaw said, "2013 has been a transformational year. The business has undergone significant organizational change both in its UK and Asian operations and the leadership team has been strengthened with the recruitment of a number of experienced senior managers. The Group is now in a much stronger position with a business model and structure to support focused growth and drive further operational improvements."

The EMS firm's book-to-bill is positive, he added, boding well for the new year.

Stadium closed its Rugby, UK, manufacturing site at the end of 2012 and consolidated its electronics manufacturing services business in Hartlepool.

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