Electronics manufacturer Neways Electronics International reported turnover increased in the first quarter of 2018 by 13.7% to €122.3 million from €107.6 million in the same period of last year.
Order intake was up 15.6% year-on-year with the higher activity levels driven by demand in the industrial and semiconductor sectors. However a persistent shortage of components and difficulties recruiting additional personnel resulted in a slow-down in turnover growth and pressure on the organisation the company said.
Huub van der Vrande, CEO, said "We made a strong start to the year, with substantial growth in turnover and a well-stocked order book. We can also be satisfied with the growth in productivity we realised despite the continued pressure on the organisation. We maintain our outlook for the full year 2018. Neways is in an excellent position to realise a higher net turnover and higher operating result compared to 2017."