- Bristol Labels on track to secure 15% year on year growth
- Improved production capacity enables company to focus on increasing sales
- Growth supported by invoice discounting facility
Local label producer Bristol Labels is on track to achieve 15% year on year growth after the implementation of more efficient machinery. This investment has increased productivity, enabling the company to focus on securing higher sales volumes.
Annual turnover is expected to reach £1 million and sales are expected to grow 22% this year. Two new positions have been created on the back of the funding - a new apprentice and sales manager.
Based on Whitby Road in Bristol, Bristol Labels was established in 2004. The company produces labels for over 150 different customers including Tesco, Sainsburys, Screwfix and B&Q as well as a number of breweries, ice cream manufacturers and cosmetic manufacturers. Bristol Labels also has its own in-house design service providing customers with product branding, packaging and label design support.
The firm’s ongoing success and recent growth is largely down to new account wins as well as increased order volumes from existing clients. Last summer, the firm installed new print equipment which boosted production capacity by 20%, enabling them to broaden their product offering and secure a higher number of sales.
Bristol Labels secured an invoice discounting facility with us. The facility, which was increased from £175,000 to £200,000 in July 2015, helps the company by releasing funds from its sales ledger to support its increased working capital requirements. The facility also includes credit protection which mitigates the impact of bad debts.
Paul Stokes, Managing Director of Bristol Labels:
"The growth we've achieved is really positive and I am thrilled with the success the business's continuing success.
"The invoice discounting facility has also provided us with a great deal of support – easing cash flow pressures so that we can continue to take on more business."
Ian Hussey, Relationship Manager at Royal Bank of Scotland:
"Bristol Labels continues to go from strength to strength and I'm pleased that we're working alongside the company to support its expansion. Paul and his team are very experienced within the industry and have developed a business that offers both a high quality product and great customer service.
"The invoice discounting facility we've provided is a great funding tool to support their continued growth strategy."
Security may be required. Product fees may apply.
ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.