Mail bag firm on track to hit £30m turnover mark by the end of the year
A firm which makes polythene mail bags is aiming to have a £30m turnover by the end of the year.
Duo UK, which produces polythene mailing bags for a range of clients, including JD Williams, JD Sports and Tesco, has announced a 16 per cent growth in turnover.
The increase means the company is on track to reach revenue of £30m by the end of 2018.
The business’s growth, which is accelerating six times faster than average for the UK packaging industry, comes as a result of the continued rise of ecommerce and the resulting demand for appropriate packaging products.
A significant portion of revenue over the past year has also come from an increased uptake of Duo’s sustainable packaging products and recycling capabilities.
Anthony Brimelow
Anthony Brimelow, commercial director at Duo UK, said: “We’re thrilled with the growth we’ve achieved so far this year.
“With online retailers experiencing a strong start to the year, it’s clear to see that the pace has accelerated for multichannel retailers and, in turn, the volume growth for packaging has soared.”
Duo has also seen increased interest in its sustainable offering, with brands exploring ways to improve their infrastructure in order to recycle their packaging and use more sustainable options.
Anthony added: “We believe that packaging is a necessity, but one that doesn’t have to put as much of a strain on the earth’s natural resources.
“We’re committed to reducing our dependency on virgin plastic, by recycling and re-using packaging waste, and sourcing and using renewable materials, such as GreenPE.
“By offering a closed-loop recycling programme and sustainable packaging materials, we have been able to attract new UK and international clients including Joules, True Alliance and Mainline Menswear, as well as extending relationships with current clients.”
To celebrate the milestone, Duo has made a commitment to invest £1m in new equipment for its factory in Manchester, in order to increase efficiency and respond to further expected demand.
Anthony said: “We’ve had a busy but successful start to the year and we’re confident that the continuing demand for our sustainable, high quality products and closed-loop recycling service – not just in the UK, but internationally, too – will continue to drive us to our £30m turnover target by the end of the year.”
