ELECTRONICS business Stadium Group says its new acquisitions should deliver "significant growth" in the second half of the year.

The Hartlepool-based company, which last month reported annual revenues of £44.81m and pre-tax profits of £2.87m, issued a trading update to shareholders at its annual general meeting yesterday. Stadium’s chief executive Nigel Rogers stepped down at the meeting after 10 years in the job, as had previously been announced.

The firm said: “Overall, the board is confident in Stadium’s future prospects and we approach the remainder of the year with optimism.”

The business sold off its plastics interests last year to focus on its high- growth electronics side.

It employs around 1,200 people and expects revenue to increase by around 10% in its current financial year.