Distributor looks abroad for growth

MERSEYSIDE-based H&M Distribution is planning to drive turnover by 40% in the next two years with a new international venture.

The Newton-le-Willows firm delivers pallets of freight for a variety of clients operating in fields such as construction, electronic goods and manufacturing.

In June it launched H&M International Distribution which serves customers in mainland Europe, as well as exporting globally through a partnership with a sea freight firm.

The funds for the expansion have been secured with a six-figure invoice finance facility with Lloyds TSB Commercial Finance.

Owner Simon Mulvey said: “By spreading our sales ledger across a wide variety of clients we were able to trade profitably during the recession and as we saw favourable trading conditions overseas with the weakened sterling, the opportunity to launch H&M International Distribution was too good to miss.

“The funding from Lloyds TSB Commercial Finance was instrumental in setting up the new venture as it provided a rapid cash flow boost needed to finance start-up costs. We are now in a strong position for future growth and we plan to continue to develop H&M International, with new customer wins our main priority.”