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TWST: Could you begin with a brief historical sketch and an overview of the services provided by Stadium Group (London: SDM.L)?

Mr. Rogers: Our principle business is the provision of electronic manufacturing services for a select group of OEM clients. We provide printed circuit board design and assembly services through to full product build. That has been our principle business since a strategic review, which was undertaken in the second quarter of 2001, shortly after my appointment as Chief Executive. Up until March 2001, I would describe the company as a small industrial conglomerate, which at that time had several businesses, and principally electronic manufacturing and plastic injection molding. After the strategic review, the plastic injection molding business and a number of other non-core activities were sold and the company undertook a substantial restructuring program in order to focus its attention on electronics. Our capabilities are now the provision of electronic manufacturing services. Our facilities in the UK concentrate on relatively niche product areas; areas where there is a high degree of customization close to the point of end-use for our customers, and our volume manufacturing capabilities are based at our factory in China, which comes under the title Stadium Asia. With the products and services that we provide, we cover principally four market areas; consumer products, automotive products, industrial and telecommunications. Each of those have broadly equal prominence within our portfolio. We look to have a fairly broad spread of sectors within the business, in order not to have the concentration risk of being too highly focused on anyone of those sectors, and within each of those we have a number of key customers.

TWST: Can you highlight what is going to be on the company’s agenda for the next 12 to 24 months?

Mr. Rogers: We have completed the restructuring of the business and put ourselves in a very strong position now, from the point of view of our ability to finance growth. All of our attentions now, and for the next 12 to 24 months, are on delivering organic sales growth through Stadium Asia and improving further the profitability of the group. Looking at our current market forecasts compared to last year, when the business did little more than break even, we have a market forecast for the year ending 31st December 2002 of PBT of GBP1.1 million and next year our market forecast is for PBT of GBP1.7 million. In order to deliver on that, we need to continue to deliver organic sales growth and that will be our major focus as a management team.

TWST: What is the long-term vision of the company?

Mr. Rogers: I think the key opportunity that we have as a group, is the strength and the potential of Stadium Asia, especially recognizing that even now having almost doubled the turnover year on year for the two years we have owned the business, that we are still significantly under utilizing the capacity within that business. There is potential to double the turnover from where it will be for the calendar year 2002 within the existing infrastructure, and so to continue to drive new business through that operation will give us significant operational gearing benefits to the bottom line. That therefore has to be a major opportunity for us to exploit, which given that we believe that we are in a position to deliver, will certainly put us in a strong position.