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|New contracts boost exports at Cardiff oursourcing company|
|Tuesday, 01 December 2015|
Cardiff-based outsourcing firm CCS McLays is increasing exports to the EU and expanding its workforce by 10 per cent, with the support of a £7 million finance package from Lloyds Bank.
The firm specialises in supplying, printing, packaging and goods not for resale to businesses operating in the high street retail sector.
Over the past three years the company’s expansion has mainly focused on the packaging arm of the business, with the firm securing new contracts with major high street retailers such as HUGO BOSS, New Look, BHS and Clarks.
The company has also increased exports to Germany, Ireland, France, Belgium and the Netherlands, after securing contracts to supply packaging to a number of clients’ EU-based distribution centres and stores.
As a result the company expects to increase its turnover by circa £2 million by April 2016.
Ian Hall, chief executive at CCS McLays, said: “We have experienced a sustained period of growth over the past few years, with increased demand from clients allowing us to expand both at home and overseas.
“As we grow it’s vital that we continue to provide a high standard of service, and to ensure that we are continuing to meet client expectations we are expanding our workforce by 10 per cent to help with the increase in demand.”
To support the expansion the management team approached long-term banking partner Lloyds Bank, which provided a £7 million funding package specifically tailored to suit the business’ needs.
The package included a £2 million Trade Finance facility to help support the company’s import and export activity in Asia and the Eurozone.
Mike Thompson, finance director at CCS Mclays, added: “Lloyds Bank has supported us for more than a decade, and during this time they have worked closely with us to thoroughly understand the company’s aims.
“As a result of this in-depth understanding they have been able to tailor our funding packages to suit our specific needs, making it easier to expand our import and export activity according to client demand.”
Stephen Jones, relationship director for Lloyds Bank Commercial Banking, said: “The retail sector can often be a challenging environment with businesses constantly having to adapt to clients’ changing expectations.
“The tailored funding package provided will allow CCS McLays to capitalise on growth opportunities, increasing working capital within the firm so they can expand quickly without affecting day-to-day cash flow.
“I have always been impressed with the management team’s drive and market expertise, and look forward to supporting them as they continue to grow over the coming years.”
Lee Plummer, relationship manager at Lloyds Bank Commercial Finance, said: “CCS McLays is an excellent example of how firms can utilise asset based finance to support both UK-based and overseas activity, as it increases available working capital within a company meaning that day-to-day business costs can be met while companies await payment.
“We are dedicated to helping firms like CCS McLays boost international trade, and we have pledged to grow our trade finance to SMEs by 25 per cent.”
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