Ipswich freight and logistics firm Charterlink eyes record turnover of £3m
10:11 03 November 2014
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A freight and logistics firm is set to celebrate record turnover thanks to outside funding to help it grow.
Ipswich-based Charterlink is targeting a record turnover of close to £3million this year, after receiving funding from Bibby Financial Services.
The firm offers UK distribution and 25,000sq ft of warehousing at its depot in Ipswich.
Although many companies were hit by the recession, it has been able to incrase the scale of its operation and has seen steady growth of nearly 20% over the last three years and increased its workforce from 13 to 16.
The business organises import, handles customs paperwork, unloads containers and arranges the picking, packing and delivery to retailers and wholesalers around the UK and works with customers including a major luggage manufacturer in Asia.
Managing director Stephen Carr said: “There is a lot of competition for freight and logistics in East Anglia but we have been able to differentiate ourselves through the service we offer to our customers. We have worked hard to ensure on-time collections, and where there have been delays, we’ve learned the value of keeping customers completely updated along the way.”
Charterlink used Bibby Financial Services’ Flexidraft facility, which works in a similar way to an overdraft, to give it working capital to invest in new trucks and warehouse equipment. It has also able to scale up its operation, taking on new contracts.
Last year, the business increased its funding line from £50,000 to £80,000, in line with its higher turnover and growth aspirations.
Sharon Wiltshire, managing director for Bibby Financial Services in East Anglia, said: “Stephen and the team have achieved solid growth over the past few years and its position in Felixstowe, one of the UK’s top container ports, is a strong one.
“Charterlink is a great example of how determination, combined with a quality offering, can lead to business success. Stephen and the team have used Flexidraft to their advantage and we’re looking forward to seeing them drive their business forward even further.”