ELECTRONICS business Stadium Group is looking to further growth in overseas markets.

The Hartlepool business, employing more than 200 staff, is looking to establish a subsidiary in China, in a bid to claim a foothold in that massive market.

The news came as the group's Stadium Asia subsidiary reported a 45 per cent rise in turnover, to £11.7m, and operating profits of £780,000, on the back of business wins.

That helped the group cut its operating losses in the year to December to £350,000, compared to £5.6m in the previous year.

Overall turnover at the group rose by four per cent to £35.4m, with operating profits up by 59 per cent to £1.5m.

Profit on continuing activities before tax and goodwill payments amounted to £1.2m.

Nigel Rogers, chief executive of the group, said: "We are now in a phase of strong organic growth at Stadium Asia, and our UK operations have been stabilised.

"The strength of our balance sheet indicates ample financial resources, and we have a strong team of dedicated people providing first-class services to an expanding list of high-quality customers, many of whom are household names."

Stadium, listed on the AIM, plans to pay a dividend of 2.8p per share, unchanged from last year.