© stevanovicigor dreamstime.com Electronics Production | October 06, 2015
Speedboard reports a 24% increase in turnover
Speedboard Assembly Services has closed its 2014-15 financial year with a turnover of GBP 9.23m, circa 24% up on FY 2013-14 (which closed at GBP 7.45m).
The increase is attributed to landing new business and increased volumes of work from existing customers. In addition, the value of Speedboard's re-shored work has doubled from 5% to 10% during the same period. Neil Owen, Speedboard’s Managing Director, comments: “We’re extremely pleased with this year’s financial results as the numbers are proof-positive that our approach to business and supporting customers in ways most CEMs are unwilling to entertain are the way forward.” The company also attributes the success of the year to its willingness to invest more than GBP 250'000 on new equipment. For instance, a Selective Soldering line was purchased to support an existing customer with a new project and a Vapour Phase oven was purchased to support a new customer. Whilst both purchases were made in order to undertake specific projects, the equipment has given Speedboard manufacturing capabilities which are set to become increasingly called upon in light of the growing complexity of PCBs. Owen adds: “Our preferred model is to integrate ourselves into our customers’ processes. This typically means sharing the same sales forecast, agreeing and committing to the appropriate stock profiling in order to meet spikes in demand, implementing a continuous improvement strategy, sharing test and inspection results and having open book costings. By doing so, it is possible to work together to drive quality higher, reduce lead-times and provide products at prices that satisfy both parties and the end-users.” Speedboard anticipates that by the end of its next financial year the company will see a further increase in turnover – one that will take it well past the GBP 10 million mark.