Published on 20 - January - 2011
Financial boost for garden furniture supplierSussex-based garden furniture supplier Alexander Rose has plans to boost growth by 30% in 2011 after receiving financial backing from Clydesdale Bank.
L-r: Paul Stammer and md Borge Leth with Dave Barden of Clydesdale Bank
The company has agreed a £4.8m funding stream through Clydesdale Bank's Investing for Growth initiative. The aim is to use the finance to grow sales from last year's £11m to £14m in 2011.
Alexander Rose's financial director Paul Stammer said: "Last year was a tough year and our costs rose by 20%. Exchange rates were against us and the cost of containers soared as shipping lines mothballed vessels. However, we stood firm and refused to pass those increases on to our customers.
"Over the next year we are looking to increase our income by 30% by recouping last year's rise in costs added to extra sales. Although we are best known for our wooden benches, the big trend for next year is going to be weave furniture and we have beefed up our weave range in anticipation of that."
Alexander Rose designs, imports and distributes garden furniture including benches, chairs, tables and gazebos. The company was founded in 1994 and currently employs 30 people.
DIYWeek.net does not edit comments which are submitted directly by our users to express their own views. Please report abuse of our comment system here.
© Datateam Business Media Limited 2011. DIY Week.net news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.