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© axiom Electronics Production | March 11, 2015

Welsh Axiom credits growth to skills investment

Welsh-based contract electronics manufacturer, Axiom Manufacturing Services, reached record turnover and operating profits in 2014, and filled its order book with promises of more of the same.
The manufacturer posted a turnover of GBP 34.62 million for the year ending 31st December 2014, an increase of over GBP 6 million or 23% on the previous year. Pre-tax profit increased to GBP 1.65 million.

Axiom has recently committed to doubling the size of its apprenticeship scheme over the coming years. David Davies, managing director at Axiom, commented on the company’s fifth year of sustained growth, saying:

“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.”

According to Mr. Davies this is all part of a bigger growth strategy which keeps the company on its toes, continually looking at what is next for the business and how to sustain its growth.

“This will only be possible through retaining and developing the skills within our business and I believe this lies firmly in our commitment to our apprenticeship and graduate programmes.”

Axiom’s apprenticeship programme was launched in 2010 in partnership with Coleg y Cymoedd and has seen eight apprentices join the company on a four-year programme working across all areas for the business.

The Secretary of State for Wales, Stephen Crabb said: “Axiom’s latest figures show that high technology manufacturing within Wales is alive and well – accounting for over 15% of the Welsh economy – and the sector has an impressive track record on apprenticeships.

"Business leaders of the future are just as likely to come from the factory floor as the university lecture theatre or business school. Here at Axiom I look forward to seeing the difference that apprenticeships can make when it comes to improving skills, securing investment and growing the Welsh economy."

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