Coveney returns to practice to lead new SME service

ACCOUNTANT Andrew Coveney has returned to practice to launch a new service for North West firm Campbell Wooley.

Mr Coveney was most recently with Bolton kitchens manufacturer Bernstein Group, which went into adminstration late last year after a slump in the market place.

He will use his experience in business to help small and medium-sized companies weather the recession with Resilience+, the firm’s new service, which is designed to give owners and funders peace of mind about the financial health and prospects of their businesses as well as developing better relationships with lenders.

The bespoke service starts with financial health-checks leading into implemented solutions in cash and cost management, financial reporting and forecasting, devising and introducing marketing strategies and developing business plans and help with the management of relationships with stakeholders, banks and asset-based lenders.

Mr Coveney has worked in industry as a finance director for more than 15 years, and is no stranger to turnaround situations. He has been involved in refinancing and fundraisings in a range of sectors from property and retail to manufacturing and pharmaceutical.

After qualifying with Coopers & Lybrand, he worked in corporate finance until joining CP Pharmaceuticals as finance director at the age of 27 before the firm was sold to Wockhardt, the Indian Pharmaceutical Group.
 
He spent 10 years at the company and became joint managing director, during which time the business recovered from a £3m loss on a £11m turnover to a £5m profit on sales of £35m.

He then joined a tablewear manufacturer, where he held the role of finance director.He joined Bernstein in 2006.

He said today: “Many accountants have traditionally acted like historians but in today’s market banks are taking a different approach to lending and are far more interested in seeing that management properly understand the dynamics of their future cash flow. The Resilience+ service  doesn’t just diagnose issues, it provides real solutions.”