Axiom Manufacturing Services has announced record turnover and operating profits for 2014, with a forward order book that promises more of the same.
The Newbridge-based electronics manufacturer posted a turnover of £34.62 million for the year ending December 31, 2014 – an increase of more than 23% on the previous year. Pre-tax profit increased to £1.65m.
It was the company’s fifth successive year of growth.
The growth was announced as the company demonstrated the success of the manufacturing and technology sector in Wales to Stephen Crabb, the Secretary of State for Wales, on a visit to Axiom’s 300,000sqft facility in Newbridge at the start of Apprenticeship Week, held between March 9 and March 13. Axiom has recently committed to doubling the size of its apprenticeship scheme over the coming years.
David Davies, Managing Director at Axiom, said: “We are obviously delighted with the results. The team here at Axiom continue to exceed expectations by delivering solid execution and performance across our business.
“To the leadership team the results signify much more than ‘another record year’. They demonstrate that the strategy we have developed, which focusses squarely on adding value to our customers by providing them with a competitive advantage through continued ‘smart’ investments in state-of-the-art equipment, new capabilities and in our people, is not only working but has driven Axiom to the fore of our industry and positions us well for continued growth.
“This is part of a bigger growth strategy that continually sees us looking at what is next for the business.”