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Electroparts Ltd Financial Overview -  February 2008

Company Established June 1990

 

Electroparts provides a skilled, professional sub-contract facility for: 

  • Technical, Commercial and Bespoke cable and wiring loom assembly including off site delivery
  • Commercial and Power PCB assembly including SMT, Standard THP, Repair and Rework
  • Chassis and Panel wiring including DIN rail assembly
  • Light engineering including drill and tap, punch, rail and bar cutting, engraving
  • IPC Cable Training including in-house and external delivery
  • Commercial Electronic component supply.

 

Company Turnover

2005 = 380K GP 59% Net Profit £6.5K

2006 = 602K GP 59% Net Profit £38K

2007 = 664K GP 63% Net Profit £1.5K

2008 = 699K GP 65% Net Profit £4.7K

2009 = 487K GP 66% Net Loss £18K

2010 = 416K GP 67% Net Profit £6K

 

Current shareholders are Carol Swallow(MD), Peter Swallow(Chair)


Strategy Statement
The company had targeted monthly turnover growth to deliver £1m annual turnover, by end of 2008-09 financial year, working within the recently instituted new management structure. This strategy has been held over due to the recession and will be re-assessed in 2010, once prospects are clearer.

As part of the growth plan Electroparts has identified key areas for investment:

Management system upgrade:

The company runs a full MRP management system, including estimating, sales, purchasing, BOM, labour costing, capacity and load planning, productivity and performance measurement and data logging. Plan includes upgrade to the system to improve the speed of purchasing, and introduce a paper free, information based, manufacturing area system. The upgrade will release management resource, and improve the control of information onto work desks, increasing efficiency.

Benefits: Target increase in manufacturing productivity of 10%. Release of critical management time that can be deskilled, allowing refocus of key management resource to support growth plans.

 

Capacity Increase:

Production cabling capacity is currently almost fully utilized. We have developed a plan to increase workshop capacity by around 40%, coupled with Lean Productivity gains designed to cover requirement up to, and beyond, target turnover levels. The plan involves removing the current PCBA facility, upgrading to meet new professional standards, and relocating to new identified space. The existing PCBA facility will be turned over to cabling giving us 40% more capacity immediately. The new PCBA facility will incorporate high grade manufacturing space, with improved special stock control, inspection and a new rework and repair section to allow the marketing of this new service.

 

Engineering Refurbishment:

The company has identified new work that could be attracted if we had improved mechanical assembly facilities, with investment in equipment and workspace to support. We have identified space, which would require complete refurbishment, but which would then enable us to explore completely new opportunities, while streamlining and improving the current delivery and productivity of this section.

 

The company is also targeting growth through acquisition and we are currently actively trawling opportunities both for turnover increase and service/capability growth.

 

Quick Contact

Electroparts Ltd
Tenter House
Elm Street
Skelmanthorpe
Huddersfield
West Yorkshire
HD8 9DZ

T: (0)1484 866686
F: (0)1484 866687

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