Contract furniture manufacturer Godfrey Syrett has seen turnover grow by 7.5% following its expansion after being backed with bank funding.
Earlier this year Godfrey Syrett opened its new Belmont distribution centre – after acquiring the property last year. Since the deal, HSBC has supported the expansion with a comprehensive financial package, including a commercial mortgage.
The HSBC-backed premises will support production capacity to meet growing demand in the UK and has generated 15 new jobs at Godfrey Syrett, which celebrates its 70th year in 2017.
Neil Tweddle, managing director at Godfrey Syrett, said: “Since the opening of our distribution centre with the support of HSBC, we’ve seen a seven and a half per cent increase in turnover this year compared to previous years.
“We have found HSBC to be very flexible and innovative throughout and have helped us to realise our ambitious plans. The distribution centre is an important step in our future business expansion plans as it allows us to take total control of sharing products with customers.”
Tony Leech, area director at HSBC, said: “Since working with Godfrey Syrett we’ve seen the team use this expansion opportunity to stay ahead of the competition. They have demonstrated a clear strategy for success and as demand continues to grow, we were pleased to help meet their evolving needs.”
The funding comes from the HSBC’s national £10bn SME fund for actively supporting UK SMEs.