A shake-up at North-East electronics group Stadium has led to a 70 per cent increase in half-year profits.

The Hartlepool group, which sold its plastics injection moulding division to a management buy-in team in a £7m deal earlier this year, said it was in good shape following the strategic review.

The review also saw the disposal of the Consumer Products Division for £1m.

As a result, operating profits at the remaining electronics operations, employing 200 staff in Hartlepool, rose from £364,000 to £620,000 in the six months to June 30.

Stadium's operations in Asia experienced sales growth of more than 60 per cent from £3.4m to £5.4m.

The business now has a stable base of high quality customers covering the consumer, industrial, automotive and telecommunications sectors.

Commenting on the results, chief executive, Nigel Rogers, said: "Good progress has been made since the strategic review, the disposal programme is almost complete and we are seeing solid growth at Stadium Asia, both of which give me much confidence for the future."

He added: "We will continue to ensure that our capabilities and cost structure are well matched to the scale and nature of niche contracts appropriate for UK manufacture.

"Our branded plastics business continues to make a positive contribution, and will seek further opportunities for organic growth.

"These factors combine to provide confidence in trading prospects for the second half of the year."

The interim dividend for shareholders is unchanged on last year at 0.95p per share.