Speedboard Assembly Services, a leading Contract Electronics Manufacturer (CEM), has closed its 2016-2017 financial year with a turnover of £12.5m, up circa 12% on FY 2015-2016 (which closed at £11.1m, up circa 20% on FY 2014-2015).
The continued strong growth is attributed to new business wins and increased volumes of work from existing customers, some of which have moved away from dual-sourcing arrangements to make Speedboard their ‘virtual shop floor’ single source.
Neil Owen, Speedboard’s Managing Director, comments: “2016-2017 was another significant year for Speedboard. We’ve continued our track record of delivering compelling growth and achieving strong underlying profitability. It demonstrates that our approach to business and supporting customers in ways most CEMs are unwilling to entertain are the way forward.”
Following the year-on-year growth, Speedboard announced earlier this year that it is investing for the future by expanding its shop floor, and the extra 3,000 sq. ft. of space gives the facility a total of 25,000 sq. ft. This extra capacity provides real benefits for customers in terms of productivity and high levels of service and allows the CEM to carry out more Final Assembly work on its shop floor.
Speedboard’s customer base has remained loyal across a range of industries, including Communications and Broadcast; Automotive; Industrial; Healthcare and Security, where its objective has been to build long term partnerships and where professionalism, flexibility and responsiveness are key.
Speedboard’s offerings range from traditional build-to-print through to full lifecycle, including DFM, prototyping, full production, packaging, delivery to end customer, repairs and after sales support.
Speedboard’s customer-focused approach to business is reflected in the CEM’s high customer retention rate. Speedboard’s longest standing customer has now been working with the CEM for more than 20 years and the CEMs average customer relationship is around 10 years. In addition, Speedboard is delivering increased volumes of final assembly work for its customers, managing complex supply chains and seeking to add value to every engagement.