group plc
annual report 
2004 year in brief 1
group at a glance 2
directors 4
chairman’s statement 5
chief executive’s review 6
directors’ report 10
corporate governance 13
remuneration report 15
independent auditors’ report 17
corporate directory 18
consolidated profit and loss account 19
balance sheets 20
consolidated cash flow statement 21
statement of accounting policies 23
notes to the financial statements 25
five year financial summary 37
notice of agm 38
proxy form 39
globally competitive
manufacturing solutions
our products and assemblies are used by some of the world’s leading brands in
consumer automotive telecommunications and industrial sectors
registered in england no 236394            
contents stadium group plc
1
global experience
expertise and opportunity
year in brief
summarised results
2004 2003
£m £m
group turnover
asia 1645 1445 14
uk 1735 2043 15
–––––– ––––––
total 3380 3488 3
–––––– ––––––
–––––– ––––––
adjusted pbt 234 188 24
goodwill amortisation 013 013
exceptional items 020 011
–––––– ––––––
reported pbt 201 186 8
–––––– ––––––
pence pence
adjusted eps 73 53 38
goodwill amortisation 05 05
exceptional items 05 04
–––––– ––––––
reported eps 63 52 21
–––––– ––––––
dividend per share 325 290 12
–––––– ––––––
denotes before goodwill amortisation and exceptional items
stadium electronics turnover
by origin by destination
1 uk 59
2 europe 15
3 asia 11
4 americas 8
5 other 7
by sector
1 consumer 40
2 industrial 25
3 automotive 22
4 telecom 13
1 2
3
4
1
uk
33
2
asia
67
3
4
5 annual report and accounts 2004
2
group at a glance electronics – uk operations
stadium electronics offers high quality electronic
manufacturing services from its site at hartlepool
in north east england
a dedicated engineering team provides comprehensive
design and buildtoprint support services together 
with production engineering quality and test 
equipment origination
customers benefit from full turnkey project
management support from concept to delivery
electronics – stadium power
stadium power design and manufactures custom and
standard switch mode power supplies and associated
power products
as one of the uk’s leading power solution 
providers we have a fully comprehensive range 
of products available including acdc converters 
dcdc converters dcac inverters ups’s
programmable switch mode power supplies smps
euro cassettes battery chargers transformers 
plugtop and desktop power supplies
electronics – asia operations
stadium asia comprises a design and commercial
centre based in hong kong and a high volume
production facility at chang ping city in the guangdong
province of the peoples republic of china
the business is delivering high rates of growth in the
provision of electronic manufacturing services ems to
worldwide customers covering consumer industrial
automotive and telecommunications applications
our factory includes the following capabilities


Summary:
 annual report and accounts 2004
2
group at a glance electronics – uk operations
stadium electronics offers high quality electronic
manufacturing services from its site at hartlepool
in north east england
a dedicated engineering team provides comprehensive
design and buildtoprint support services together 
with production engineering quality and test 
equipment origination
customers benefit from full turnkey project
management support from concept to delivery
electronics – stadium power
stadium power design and manufactures custom and
standard switch mode power supplies and associated
power products
as one of the uk’s leading power solution 
providers we have a fully comprehensive range 
of products available including acdc converters 
dcdc converters dcac inverters ups’s
programmable switch mode power supplies smps
euro cassettes battery chargers transformers 
plugtop and desktop power supplies
electronics – asia operations
stadium asia comprises a design and commercial
centre based in hong kong and a high volume
production facility at chang ping city in the guangdong
province of the peoples republic of china
the business is delivering high rates of growth in the
provision of electronic manufacturing services ems to
worldwide customers covering consumer industrial
automotive and telecommunications applications
our factory includes the following capabilities