Matrix Electronics increases overall turnover by 4.1% compared to the previous financial year

The Business Magazine asked the CEOs and leaders of the Thames Valley SME 100 Growth listing, which celebrates the region’s high-growth small and medium-sized enterprises, to share their experience of managing a company in 2021. We asked David Piddington, the managing director of Matrix Electronics, the following three questions:

• What were your toughest challenges over the past year?
• What were your biggest wins?
• What are your wildest ambitions for the coming year?"

This year, Matrix Electronics reached number 93 on The Business Magazine’s annual Thames Valley SME 100 Growth index with an overall growth of 7.3%. The Theale-based company also had an overall turnover of 4.4%, which is 4.1% higher compared to the previous year. Matrix Electronics provides an array of supply chain services to the electronics manufacturing marketplace, has had a year-on-year growth since its foundation in 2013.

What were your three toughest challenges over the past year?

David Piddington: We had numerous difficulties associated with the pandemic. Some of these included a shortage of electronic components due to a surge in global demand – something that has been well publicised in the press. Pushing through changes within the business to enable the next phase of growth was also difficult.

Your biggest win?

David Piddington: Retaining all members of the team during the pandemic and even adding a few more.

Your three wildest ambitions for the coming year?

David Piddington: Increase turnover by 50% - something we have achieved in previous years. Deliver industry-leading systems to facilitate future growth. Continue to develop our stores and warehouse to create a ‘showcase’ facility.

Matrix Electronics is included in the Thames Valley SME100 Growth index for the second consecutive year. To qualify for the listing, businesses need to be based in the Thames Valley, have a turnover of no less than £1 million and no more than £20m, and to have grown their turnover significantly in the past year.

The 2021 edition of the list is sponsored by law firm Herrington Carmichael, commercial property consultants Hicks Baker and corporate finance advisers Wilson Partners.

Supporting partners are Laithwaites and Lamborghini.

All Thames Valley SME 100 Growth members are now invited to enter the nominations to this year’s awards, which will recognise outstanding achievements in six categories.