SON, THE NETHERLANDS – Neways Electronics recorded net revenue of $212.4 million in the first half of 2015, up 41% year-over-year. The increase is a result of the consolidation of BuS Group as of July 2014.

Organically, revenue was down 6% year-over-year. Sequentially, Neways recorded an 8% organic increase in revenue.

Net profit for the quarter was $3.8 million, up 13.3% year-over-year.

The order book stood at $183 million at the end of June, compared to $175.1 million at the end of 2014.

“In the first half of 2015, we were able to respond effectively to a recovery in demand from our clients compared to the second half of 2014,” said CEO Huub van der Vrande. “In the past six months, the renewed executive board began the process of identifying potential improvements and initiated the roll-out of a group-wide program of improvement dubbed ‘up to the next level.’ We want to use this program to further strengthen our position as a one-stop provider in the electronic manufacturing services market. As a result of the acquisition of BuS Group, our distribution across market sectors has improved and enables us to respond more effectively to fluctuations in demand. We expect the first half of the year to be a good indication of the level of business in the second half of 2015.”

At the end of June, Neways had net debt of $44.4 million, compared to $39.1 million at the end of 2014.