12/10/2009

Leicester based LPC Group plc is forecasting record sales in excess of £230 million for the year ending September 2009. Yet another year of growth is on the back of a £75 million pound investment programme that has transformed the group.

Executive Chairman Amin Tejani has a clear understanding of how this success has been achieved, “the business growth we have experienced in recent years is due to the unrelenting focus we place on our customer needs in terms of service and quality. This is backed by investment to ensure that we have a state of the art manufacturing platform to deliver and exceed our customer expectations”.

Group Finance Director, Arvind Vij is delighted with the results achieved so far, “When I joined the company in November 2005 I found that the board had a clear vision of what the business needed to achieve to serve it markets. Based on this we put in place a three year strategic plan to invest in our facilities, systems and people and successfully raised £115 million of funding. We are now benefitting from this strategy and I remain satisfied by our current trading which is holding up well despite the very difficult economic climate. We will exit the current financial year with a strong balance sheet, comfortable gearing, and sufficient cash headroom to fund incremental capital expenditure without recourse to fresh borrowing”.

Key appointments to strengthen the management include the arrival of Peter Spencer as CEO. His and the other senior management appointments are a part of a package of measures that demonstrate the company’s ongoing commitment to future development with a comprehensive strategic review underway to explore the route to growth in the UK and in markets local to the group’s sites in France and Belgium.

News