Turnover nears £30m for Axiom

19th Apr 2013 Wales

Axiom Manufacturing Services has reported a record turnover in its latest financial accounts.

The Newbridge-based electronics manufacturer has posted revenue of £29.9m for the year to 31 December 2012. Axiom said this figure was £5.9m higher than its intended target of £24m for the period and up by 51 per cent on last year's figures.

Pre-tax profit has also more than doubled from £763,000 to £1.8m.

Axoim is a contract electronics manufacturer providing services to the medical, industrial, aerospace and defence sectors. The company said it has continued to invest in staff and during the period its employee numbers increased from 186 to 235.

Managing director David Davies said: "2012 was a successful year for the company amid a general downturn in the global manufacturing industry. Our goals for 2013 are to remain focussed on our client model – high IP (intellectual property), high tech and low to medium volumes, all while maintaining performance and delivery.

"Our latest figures demonstrate that the UK's large electronic manufacturing services market has the ability to deliver and I hope this encourages customers to re-shore their manufacturing needs back to the UK."

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