Newbridge-based contract electronics manufacturer Axiom Manufacturing Services has announced record turnover and operating profits for 2014, with a forward order book that promises more of the same.

The manufacturer posted a turnover of £34.62m for the year ending December 31, 2014, an increase of more than £6m or 23 per cent on the previous year. Pre-tax profit increased to £1.65m.

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 300,000sq ft facility in Newbridge.

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 and how we sustain this 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.”