Published: 21 September 2009
Categories:
Press Releases, Industry
Cello Electronics is celebrating after jumping 47 places in the Sunday Times Microsoft Tech Track 100 – which lists the fastest growing technology companies in the UK – to reach the number 42 spot.
Cello Electronics, which ranked 99 in the table last year, has seen sales increase 65 per cent in the last three years, rising from £7.6m to £33.8m.
The company, which manufactures a wide range of cutting-edge, affordable LCD TVs, is based in Wensley in North Yorkshire. It manufactures its LCD TV’s through exclusive sub contractor Aclet Electronics that’s based in Newton Aycliffe, County Durham, and is currently investing in new assembly lines at the factory, where the workforce is being expanded to 70 at any one time.
Cello Electronics invests heavily in research and development and is subsequently able to bring new technology to the market place at the same time or earlier than many of the major Japanese brands. It also operates one of the best after-sales services in the industry through associate company Contrast Technology, which has been a key factor in the company’s ongoing success.
Brian Palmer, Chief Executive of Cello, said: “We are delighted to have jumped from 99 to 42 in the last 12 months. It’s our commitment to bringing new technology to market quickly, combined with our dedication to top quality customer service that has helped us achieve continual growth.
“In the past six months alone we’ve launched the UK’s first PVR TV that records onto SD cards instead of a built in hard drive and it’s already proving hugely popular. We also have several other exciting developments in the pipeline and expect strong growth over the next 12 months.”
Contrast Technology, which operates Cello’s customer service programme, employs 25 people and is based in Spennymoor, County Durham. In the unlikely event that a customer should encounter a technical problem with their LCD TV, the team ensures expert help is at hand that can provide a quick and professional solution.
Over 90 per cent of consumer issues relating to a new LCD television can be simply resolved over the phone and if not, then a high speed swap facility ensures any faulty products are replaced with brand new ones, which are delivered directly to the customer’s door – usually within the next working day.
As well as selling its own brand products via retailers including Comet, Netto, John Lewis, Sainsbury’s and J D Williams, Cello also owns an additional brand, Neon, which is sold exclusively through Morrisons Supermarkets. In addition, the company also manufactures own brand products for Marks & Spencer, Littlewoods, Grattan and Next.
Now in its ninth year, The Sunday Times Microsoft Tech Track 100 annual league table is compiled by Oxford-based research and networking events company Fast Track.
In addition to its title sponsor Microsoft, the league table is co-sponsored by Barclays Commercial Bank and BDO Stoy Hayward.
League table criteria:
Companies are ranked by their compound annual growth rate (CAGR) in sales over their latest three financial years between 2005 and 2008, or 2006 and 2009. A minimum of 25 weeks’ trading in the base and latest years was required. For financial years lasting less or more than 52 trading weeks, figures were annualised on a simple pro-rata basis.
Annualised sales had to exceed £250,000 in the base year (2005 or 2006) and £5m in the latest year (2008 or 2009). Companies had to also show an increase in sales in their latest year.
Companies had to be unquoted, independent and registered in Britain.
The research was carried out by Fast Track between May and August. All companies were interviewed by telephone and the majority (65) were also visited by the Fast Track research team.
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