supporting uk PLC - Lloyds Bank Commercial Bank

ENERGY &
RESOURCES
EDUCATION
& TRAINING
LOGISTICS &
DISTRIBUTION
CONSTRUCTION
& MATERIALS
TRANSPORT
HEALTHCARE
OIL & GAS
REAL ESTATE
ENERGY
TEXTILES
TOURISM
CHEMICALS
MINING
AEROSPACE
WHOLESALE BANKING & MARKETS
CREATIVE
& MEDIA PUBLIC SECTOR
GENERAL INDUSTRIALS
FOOD & DRINK
ADVANCED ENGINEERING RETAIL
TRAVEL
& LEISURE
ENERGY
MINING
SOCIAL HOUSING
supporting
uk PLC
RENEWABLE ENERGY MINING
CLOTHING, FOOTWEAR & FASHION
FINANCIAL SERVICES
RETAIL
TRANSPORT
COMMUNICATIONS
MANUFACTURING
PHARMACEUTICALS
& BIOTECHNOLOGY
BUILDING &
CONSTRUCTION
Partners in Business
BUSINESS & CONSUMER SERVICES
ELECTRONICS HOUSEHOLD GOODS
LEISURE TEXTILES
& HEALTHELECTRONICS
Autumn 2012
ADVANCED ENGINEERING
HEALTHCARE
ENVIRONMENT
& WATER
& MATERIALS
COMMUNICATIONS
ENGINEERING
MARINE
RENEWABLE ENERGY
TECHNOLOGY
HOUSEHOLD GOODS
AGRICULTURE,
HORTICULTURE &
ENERGY &
RESOURCES
ENVIRONMENT EDUCATION
& TRAINING
& WATER TOURISM
MINING
OIL & GAS
FOOD
& DRINK
SOCIAL
HOUSING
UTILITIES
PHARMACEUTICALS &
BIOTECHNOLOGY
ADVANCED ENGINEERING
ENERGY
AEROSPACE
EDUCATION
& TRAINING
PHARMACEUTICALS
& BIOTECHNOLOGY
FINANCIAL SERVICES
TECHNOLOGY
TECHNOLOGY
RENEWABLE ENERGY
CLOTHING, FOOTWEAR & FASHION
AEROSPACE
MINING
GENERAL INDUSTRIALS
ELECTRONICS
TEXTILES
LEISURE
& HEALTH
BUSINESS & CONSUMER SERVICES
CREATIVE & MEDIA
HEALTHCARE
RETAIL
FISHERIES
CONSTRUCTION
RETAIL
AEROSPACE
UTILITIES
ENERGY CONSTRUCTION
PUBLIC
SECTOR
BUILDING &
PUBLIC EDUCATION
SECTOR & TRAINING
TRANSPORTATION
UTILITIES
TEXTILES
ENERGY
HEALTHCARE
HOUSEHOLD GOODS
TEXTILES
RETAIL & CONSUMER GOODS
ENVIRONMENT & WATER
LOGISTICS &
DISTRIBUTION
AGRICULTURE, HORTICULTURE & FISHERIES
BUSINESS & CONSUMER SERVICES MINING
PUBLIC SECTOR COMMUNICATIONS
COMMUNICATIONS ENVIRONMENT & WATER
MANUFACTURING CHEMICALS
GENERAL INDUSTRIALS
TOURISM
MINING
HEALTHCARE
RETAIL
MARINE
HOUSEHOLD GOODS
TECHNOLOGY
LOGISTICS &
DISTRIBUTION
RETAIL & CONSUMER GOODS
ENGINEERING
MINING
TRAVEL
& LEISURE
CONSTRUCTION & MATERIALS
ADVANCED ENGINEERING
FOOD & DRINK
UTILITIES
02
MArK stoKEs describes Lloyds Bank’s
commitment to driving uK economic growth
and delivering funding to businesses at the
frontline of our recovery.
Welcome to Partners in Business. We continue to
work hand in hand with businesses across the uk
to support them in meeting the challenges and seizing
the opportunities the current climate creates. You’ll find
some of the latest success stories in this issue.
COMMITMENT TO LENDING
We are passionate about supporting the growth
strategies of uk businesses. You are, after all, the key
to kick-starting economic recovery and helping Britain
to prosper once again.
That’s why we are participating in the Funding for
Lending Scheme, which we’re using to unlock significant
reductions in the cost of finance.
Of course, providing accessible and effective funding
for growth is essential to businesses. As important,
however, is working alongside a bank that provides
on-going commitment through good times and bad.
That’s what sets Lloyds Bank apart – we are a relationship
bank through and through.
“ThAT’S WhAT SETS
LLOYDS BANk APART –
WE ARE A RELATIONShIP
BANk ThROuGh
AND ThROuGh.”
MAkING SuPPORT COuNT
As economic pressures and government policy focus
the uk away from its service-led economy towards
manufacturing, we’re extending the support we already
provide to the sector. Whether you are a large-scale
manufacturer or a niche operator leading the way
in innovation and technology, we understand the
demands you face and the specific needs of your
business. That’s why we’re making an additional
£1 billion of lending available to manufacturing firms.
We, of course, remain focused on a diverse range
of sectors and industry types, as this issue of Partners
in Business demonstrates.
Enjoy this issue and if you’d like to find out more about
how our award-winning support for businesses can help
your growth ambitions, please do get in touch.
MArK stoKEs
Managing Director
Lloyds Bank Wholesale Banking & Markets
Partners in Business
03
CONTENTS
04 The real game-changer
05 Signed, sealed & delivered in the uk
06 The complete banking solution
08 SCOTLAND
10 Case Study
STATS Group
11 Our Expertise
In Scotland
04
12 NORTH OF ENGLAND
08
14 Case Study
Decorative Panels Group
15 Our Expertise
In the North of England
16 MIDLANDS, EAST & SOUTH WEST
18 Case Study
Riviera Travel
19 Our Expertise
In the Midlands, East & South West
20 LONDON & THE SOUTH
15
22 Case Study
Melrob
23 Our Expertise
In London & the South
18
lloydsbankwholesale.com
22
Autumn | 2012
04
ThE rEAL
GAME-ChANGER
Investing to win – with selected talents,
world-class facilities and long-term
planning. The basis of Team GB’s summer
success should be mirrored by British
businesses, says SIMON WALkER.
siMon wALKEr
Director General of
the Institute of Directors
There are important lessons for businesses
and for government in the partnership
between public and private sectors which
so successfully delivered the London 2012
Olympic and Paralympic Games. If that
partnership proved anything, it was the
positive role of public investment in pursuit
of individual world-class performance.
The lasting legacy for British business
is that government spending on
infrastructure and education is critical. In
fact, with infrastructure I’d argue that our
investment ought to be ring-fenced. It’s
here that public spending must be
maintained, and indeed grown.
ENhANCING INFRASTRuCTuRE
You don’t need to look further than the
most recent World Economic Forum’s
Partners in Business
analysis of Global Competitiveness to see
why: its rankings of the quality of
infrastructure among 144 economies
shows the uk in 28th place, well behind
France (3) and Germany (10).
And that poor comparative position
is evident across several key areas –
with roads (26), rail (19), ports (17),
airports (24) and mobile communications
(27). These poor rankings didn’t happen
suddenly. They’re the result of failures
over generations.
What’s now needed is innovative ideas,
in the form, perhaps, of infrastructurebased bonds that use the government’s
own credit rating and today’s low interest
rates environment to invest in
replenishing the infrastructure we’ve
neglected over the last 30 years.
One big lesson here relates to the way
government behaves. The legislation that
allowed the London 2012 Games to
proceed removed an awful lot of the
normal planning restrictions, and
business organisations need to continue
their lobbying to ensure other projects
receive similar support. This would be a
welcome boost for the property sector
which would itself boost wider economic
confidence.
EDuCATION, EDuCATION, EDuCATION
But infrastructure is just one area where
government has a vital role in promoting
the sectors in which to excel. Education is
the other – particularly our need for
people with engineering, scientific and
technical skills. here’s where we, and
other major European competitors, are
falling badly behind the Asian growth
economies.
“we need people with
engineering, scientific and
technical skills. Here’s where
Europe is falling badly behind
the Asian growth economies.”
siMon wALKEr, Director general
of the institute of Directors
05
The success of our athletes this summer
owe much to John Major and Tony Blair’s
governments rebuilding sporting
excellence by investing in young people
and facilities. Similar levels of support for
the next generation of engineers, scientists
and business leaders could help uk
companies achieve similar global success
in the future.
BuSINESS RESPONSIBILITY
But government input can only direct
businesses so far. The pressure of
maintaining quick returns for investors and
stakeholders, especially in today’s
economic climate, can distract greatly
from medium and long-term planning
and investment.
Equity markets are encouraging this
short-termism and the recent Review of
UK Equity Markets and Long-Term Decision
Making analysis by Professor John kay
revealed that uk-listed companies are
at the top of international league charts
for dividend payouts, but at the bottom
in terms of R&D and investment.
The need for long-term thinking is
perhaps greater now than ever before.
The flat economies both domestically
and within our traditional overseas trading
partners means British businesses are
facing the challenge of breaking into
new territories. New markets and new
business cultures take time to adjust to,
and that can only come with long-term
planning and thought.
Some may see these new business
frontiers as a risk. uk manufacturers
currently export 20% of their production
tonnage, compared to about a quarter of
German and French manufacturers. That
5% would make a massive difference to
the uk economy and any risk would be
comparatively small.
Again, government has an important
role to play, and while its united kingdom
Trade & Investment agency is deeply
committed to expanding exports, we must
avoid an old British habit of propping up
lame ducks. Infrastructure investment,
better education and greater long-term
business thinking would certainly be a
positive public investment in which,
ultimately, merit rules.
lloydsbankwholesale.com
SIGNED, SEALED
AND DELivErED
SCOTLAND
UNDISCLOSED
UNDISCLOSED
Acquisition Facility to Support
Expansion Plans
Operational Banking Facilities
NORTH OF ENGLAND
£10M
£20M RCF
Trade Finance Facilities to
Support Business Growth
Funding for Growth
MIDLANDS, EAST & SOUTH WEST
£4.5M
£8M
Funding for MBO
Aquisition Facilities
LONDON & THE SOUTH
Joint Mandated Lead Arranger
Senior Facilities: £41.7m
Equity: Czura Thornton
and GCP Capital Partners
£3M
Funding Package
Autumn | 2012
06
OF OuR CuSTOMERS RATE OuR
“OvERALL vALuE FOR MONEY” AS
†
GOOD OR BETTER.
WE SERvE MORE ThAN
26,000
CuSTOMERS NATIONWIDE, FROM
MID-MARkET FIRMS TO GLOBAL
CORPORATIONS AND FINANCIAL
INSTITuTIONS.#
OuR DEDICATED BuSINESS
SuPPORT uNITS hAvE hELPED
APPROXIMATELY
2,000
BuSINESSES.
#
Partners in Business
£45.3 BILLION
ThE coMpLEtE
BANkING SOLuTION
Our committed
gross lending
to UK businesses
in 2011 beat our
government target.
FIRST
Our economic experts were voted
the TOp uk economic forecasters
for 2011 by Bloomberg.
INTERNATIONAL
WE hAvE INTERNATIONAL
OFFICES IN EuROPE,
NORTh AMERICA,
ASIA AND AuSTRALIA
TO hELP WITh YOuR
GLOBAL CORPORATE
BANkING NEEDS.
81%
OF OuR CuSTOMERS RATE
uS GOOD OR BETTER FOR
“SuGGESTING APPROPRIATE
FINANCIAL IDEAS
†
& SOLuTIONS.”
LLOYDS BANk’S
NATIONWIDE EFFORTS hAvE
PROTECTED MORE ThAN
250,000
uk JOBS SINCE 2009.#
winnEr of
EuroMonEy
BEst DoMEstic
trADE finAncE
proviDEr 2012
●
wE’rE viEwED As
tHE Most wiLLing
to “ExtEnD crEDit
in AMounts
AnD on tErMs
tHAt MEEt
ExpEctAtions”.
Source: Greenwich
Associates uk Large
Corporate Study 2012
07
*Source: Greenwich Associates uk Large Corporate Study 2012.
#
Source: Internal management information.
† Source: Charterhouse Research Business Banking Survey YE q2 2011, 186 customer interviews.
1ST FOR
HERITAGE
we have an
unparalleled heritage
of nearly 600 years
of dedicated service
to uK businesses.
1ST FOR
RELATIONSHIpS
corporates rate us number 1
for commitment to long-term
sustainable relationships
and for overall relationship
Manager capability.**
WITh SPECIALIST SuPPORT
AvAILABLE IN 24 OFFICES ACROSS
ThE uk, WE’RE EquIPPED TO
PROvIDE ThE FINANCIAL
SOLUTIONS YOu NEED.
intErnAtionAL
• cAsH MAnAgEMEnt • trADE sErvicEs
• trADE finAncE • risK MAnAgEMEnt
finAncing
BANK OF
THE yEAR
for the eighth year
running, Lloyds Bank
has been voted Bank
of the year** by fDs
of the uK’s leading
companies. we are
better than all other
banks at providing
core banking services
without fuss.
1ST FOR SUppORT
we’re known for our
long-term supportive
approach. since 2005,
we’ve been rated first for
‘most supportive bank’
among the uK’s financial
directors in the fDs’
Excellence Awards 2012**.
lloydsbankwholesale.com
• forEign ExcHAngE
• onLinE sErvicEs • cArD sErvicEs
• cLiEnt BAnKing • cAsH MAnAgEMEnt
• forEign ExcHAngE • intErEst
rAtEs • coMMoDitiEs • infLAtion
April 2012, Profit & Loss 2012
Digital FX Awards
March 2012, Business
Moneyfacts Awards 2012
• DEposit Accounts • cLiEnt Accounts
• fixED tErM & noticE DEposits
risK
BEST pLATFORM
NAVIGATION – ARENA
BEST INNOVATION
IN THE SME FINANCE
SECTOR – ARENA
DEposits
cAsH
** Source: FDs’ Excellence Awards in association with the ICAEW and supported by
the CBI & Real Business. Business Bank of the Year was won in 2012 by Lloyds Banking
Group plc which includes the operating subsidiaries: Lloyds TSB Bank plc, Lloyds TSB
Scotland plc and Bank of Scotland plc.
●
• DEBt cApitAL MArKEts • structurED finAncE
• privAtE EQuity • tErM LoAns & ovErDrAfts
• worKing cApitAL finAncE • trADE finAncE
9 OUT
OF 10
CuSTOMERS vIEW OuR
uNDERSTANDING OF
ThEIR NEEDS AS
GOOD OR BETTER.*
8 OuT OF 10
LOAN AND OvERDRAFT
REquESTS APPROvED.#
Autumn | 2012
08
SCOTLAND
We’ve been proudly serving
medium-sized businesses in
Scotland for over 300 years.
We provide funding solutions
to help businesses grow at
home and abroad, supporting
them with effective risk
management and giving them
access to tools to respond
to dynamic market conditions.
Our experience, expertise and
ambition for Scottish businesses
define us as Scotland’s leading
corporate bank.
Partners in Business
09
ALAsDAir gArDnEr
Regional Managing Director, Scotland
“EArLy signs of confiDEncE”
Scottish sectors that are performing well
are those with global reach, or with high
quality products that meet global demand,
an example being our £10bn food and
drink sector. As such, many businesses
are deepening their relationship with
our teams through flexible working capital
and trade finance solutions, particularly
in the oil and gas sector. We believe that
2013 will prove to be a stronger year for
the Scottish economy and that these early
signs of confidence will gather pace.
your tEAM in scotLAnD
MArK prEnticE
Area Director,
Edinburgh
& East Scotland
mark.prentice@
lloydsbanking.com
0131 659 3342
frAsEr siME
Area Director,
Glasgow
& West Scotland
fraser.sime@
lloydsbanking.com
0141 224 1947
stuArt wHitE
Area Director,
Aberdeen
& North Scotland
stuart.s.white@
lloydsbanking.com
01224 283 120
lloydsbankwholesale.com
Autumn | 2012
10
“the investment from the Business
growth fund, along with the capital
injection from Lloyds Bank, allowed
us to move the business forward.”
pEtE DuguiD, cEo,
stAts group
revenue. But we manage that risk.”
With demand growing, Pete is keen
to grasp the opportunities. “Growth has
certainly provided us with an additional
challenge,” explains Pete. “There’s huge
potential for growth and opportunities
in our strategic markets. The brake
on that is around funding and skills.”
sEcuring
OvERSEAS ACTIvITY
STATS Group faced increasing international demand for
its services. With more growth available than the firm could
finance, it turned to long-term banking partner, Lloyds Bank.
FORMED IN ABERDEEN IN 1998, STATS
Group provides a range of services to
the oil and gas industry and has enjoyed
steady growth despite the economic
challenges.
“We operate across all sub-segments of
the industry,” explains CEO, Pete Duguid,
“which provides us with a degree of
protection against the impact of the
economic cycle.”
Partners in Business
fAcing up to tHE cHALLEngEs
Despite the volatility of oil prices
in recent years, the business remains
dynamic and forward-looking. “The main
challenge for us is the cyclic nature of
the industry,” remarks Pete. “In 2009, the
price of oil, for example, dropped from
around $140 a barrel to $38 in just
3 months. In another 3 months, it was
back at $90. That obviously impacts on
sEizing opportunitiEs for growtH
With the opportunity to expand earlier
this year, STATS Group required
additional debt-based working capital to
realise its growth. “There was no tangible
option apart from taking on an investor,”
Pete says. “The investment from the
Business Growth Fund, along with
the capital injection from Lloyds Bank,
allowed us to move the business forward.”
The deal, totalling £11.9m, was a first for
the government-backed Business Growth
Fund and was the latest in the Bank’s
ongoing support for STATS Group.
ExpLoring gLoBAL MArKEts
“The deal has seen us undertake a great
deal of global activity,” explains Pete.
“We have established sites in Abu Dhabi
and qatar and we’re starting work in
Singapore, Malaysia and Oman. That type
of fast growth ties up working capital and
also puts a strain on labour resources.”
With turnover at £20m this year,
forecast to rise to £50m over the next two
to three years, STATS Group is working
hard to exploit its position in the market.
“We’re a niche supplier and we’ve
undertaken many technological
advances, operating onshore, offshore
and subsea. There’s still demand out there
and, with the support of the Bank, we
hope to meet that demand and continue
our growth story.”
11
ON YOuR DOORSTEP IN scotLAnD
confiDEncE
we’re seeing early signs of a recovery
in confidence across the region
and seeing good performance in
sectors such as high-specification
manufacturing. the oil and gas sector
in particular is showing signs of growth
and we’re speaking to a number
of customers who are looking for
increased working capital facilities
to support business growth.
ExpErtisE
understanding the scottish economy
means understanding the unique issues
facing businesses across the country.
scotland–specific reports produced
by our chief Economist in scotland,
Donald Macrae, complement our
uK corporate-specific research to ensure
we fully understand the economic climate
for businesses across scotland. to share
our insights, visit
lloydsbankwholesale.com/insight-and-ideas
“it’s good to know we have the support
of Lloyds Bank behind us.”
JOhN ChESSOR, Finance Director, John Clark Motor Group
KnowLEDgE
Because of the importance of the food and
drink sector to the scottish economy, we
have commissioned a report examining the
challenges and international opportunities
facing a cross-section of businesses within the
sector. we’re also sharing knowledge about
financial planning, sustainability, marketing
and supplier relationships in the report, helping
your growth ambitions on both domestic and
international arenas. the report also features
insights from various sector experts, examining
the future opportunities for scotland’s food
and drink businesses. to read the report, visit
lloydsbankwholesale.com/scottishfoodanddrink
lloydsbankwholesale.com
“we know the people, they
understand the business, and the
fact that we’ve dealt with the same
people over a long period of time
is very good for us. we value this
stability and the ease of contact.”
ANDREW COTTON, Group Company Secretary, Macfarlane Group
read more online:
lloydsbankwholesale.com/your-regions
Autumn | 2012
12
NORTh
The North of England has
always been a breeding
ground for business leaders
with the grit, determination
and inspiration needed to
succeed. At Lloyds Bank, we
share that entrepreneurial
spirit and work together with
medium-sized businesses to
deliver growth that benefits
the whole region.
Partners in Business
13
MArK Burton
Regional Managing Director,
North of England
“proActivE support cLosE By”
Our lending commitments have increased
significantly, evidencing a clear intention
amongst businesses to invest in growth.
Our flexible Funding for Lending scheme
is therefore proving a timely boost to
promote growth across the region.
We also continue to grow market share
in the North, as companies recognise our
commitment to business and to the local
and national economies.
The strength and diversity of the region’s economy is
reflected in our experienced relationship and specialist
product teams, and they work closely with companies to
understand their businesses and develop tailored solutions.
having a regionally-based credit team is proving particularly
attractive for many customers, as they know credit decisions
are being made by people who understand the local market.
your tEAM in tHE nortH of EngLAnD
DAvE ALLAnson
Area Director,
Manchester,
East Lancashire
& East Cheshire
david.allanson@
lloydsbanking.com
0161 227 4263
tiM pryor
Area Director
South Yorkshire
& humberside
timothy.pryor@
lloydsbanking.com
0114 260 9101
lloydsbankwholesale.com
stEvE HArris
Area Director,
North & West Yorkshire
stephen.harris@
lloydsbanking.com
0113 215 0935
MiKE
MuLLAnEy
Area Director,
North East
mike.mullaney@
lloydsbanking.com
0191 255 1558
tiM rigg
Area Director,
Merseyside, West
Lancashire & North Wales
tim.rigg@
lloydsbanking.com
0151 552 2083
Autumn | 2012
14
of the decline in house-building for
example,” says Guy. “Despite that,
the business has grown. We expanded
our portfolio of products and began
selling more aggressively. We’ve also
benefited from the low value of the
pound in establishing overseas
markets and we now export to France,
Germany and the Benelux. Throughout
it all, Lloyds Bank has offered us
unquestionable support.”
ThE powEr
OF INvESTMENT
Decorative Panels Group, a West Yorkshire-based
manufacturing business, has invested in new premises
and cutting edge technology, creating 100 jobs and
ensuring its on-going competitiveness in global markets.
DECORATIvE PANELS GROuP COMPRISES
three autonomous operations
encompassing lamination, components
and furniture. The latest development in
the business’ growth strategy is the opening
of a new factory to house state of the art
equipment, making it one of the most
advanced facilities of its kind in Europe.
“Investing in equipment is the key
to manufacturing success,” explains
Managing Director, Guy Metcalfe.
“It allows us to compete with the low
labour cost economies through
manufacturing efficiencies.
“The asset finance facility we have
with Lloyds Bank is essential to allow us
to upgrade and update our equipment
and to meet that challenge.”
Partners in Business
tHrougH tHicK AnD tHin
With turnover forecast to reach £94m
this year, Decorative Panels has clearly
been responding to the challenges
of recent years and fully exploiting
the opportunities it encounters.
“The recession created challenges
for us. We particularly felt the effects
“we’re fortunate that we have
a partner in Lloyds Bank who
is both very supportive and
interested in how we intend
to grow the business.”
guy MEtcALfE, Managing Director,
Decorative panels group.
supporting growtH
In addition to asset finance and funding
for Decorative Panels’ latest factory,
Lloyds Bank provides the Group’s
day-to-day banking facilities, currency
services and risk management.
“The Bank is a big part of our growth
story,” Finance Director, Tania Jones,
remarks. “It’s very reassuring to have
that kind of relationship, particularly
when there’s uncertainty or when we’re
looking at an acquisition, for example.”
Richard Townsend, Relationship
Director at Lloyds Bank, agrees.
“We’ve seen them through year on
year growth, through acquisition and
winning business from competitors
through greater efficiency and also
protecting their existing business
by their commitment to quality.”
invEstMEnt for succEss
Guy asserts that manufacturing
“will drag the uk out of recession”.
“Investment is important. Too many
businesses are afraid to invest when
things are uncertain, but measured
investment is the only way to secure
growth. Our new factory will drive
that side of the business beyond its
current £20m turnover, providing
logistical and management
efficiencies and the ability
to produce over 600,000 panels
per week.
“We’re fortunate that we have
a partner in Lloyds Bank who is both
very supportive and interested in how
we intend to grow the business.”
15
ON YOuR DOORSTEP IN tHE nortH
LooKing AHEAD
Across the region, we’re seeing
an improvement in the business
landscape and rising confidence
in sectors such as advanced
manufacturing and healthcare,
where businesses are looking to
invest and grow. though challenges
remain, businesses have shown a
robust attitude which will continue
to serve them well. indications are
that the second half of 2012 and the
start of 2013 will see further growth.
Export
As well as supporting domestic
trade, we’re also supporting
businesses seeking to trade
overseas. we are ranked first for
Domestic trade finance in the
Euromoney trade finance survey,
and we’ll continue to invest within
this sphere to further improve our
trade capabilities.
“the real differentiator was the sense
of a return to ‘traditional banking’ – they
wanted to meet all our key people, visit
the factories and really understand where
we wanted to take the business. that’s
really healthy in this environment.”
STEWART MCGuFFIE, Group Chief Executive, Allied Textiles
ExpErtisE
we have a well-respected economic finance
team within Lloyds Bank, providing sector
and region-specific reports. these reports
and forecasts help us understand the unique
issues, challenges and opportunities facing all
businesses within the region. we also ensure
these reports are shared with our customers,
giving them the benefit of knowledge and
confidence to support their business forecasting,
and allowing them to make the most of growth
opportunities. to read more of our insights, visit
lloydsbankwholesale.com/insight-and-ideas
lloydsbankwholesale.com
“the team at Lloyds Bank have
developed a really in-depth
understanding of the business,
our trading patterns and the
working capital demands we face.”
STEvE EvERITT, Managing Director, Exol Lubricants
read more online:
lloydsbankwholesale.com/your-regions
Autumn | 2012
16
MIDLANDS,
EAST &
SOuTh WEST
Since our foundation in
Birmingham in 1765, we
have played an important
role in the economies of the
Midlands, East and South
West. And through our offices
across this diverse economic
region, we are working with
medium- sized businesses to
help them strengthen and find
opportunities for growth.
Partners in Business
17
DAviD ricHArDson
Regional Managing Director,
Midlands, East & South West
“A cLEAr grAsp of tHE cHALLEngEs”
Businesses doing well are those that have
the drive to strive and thrive by creating
greater efficiencies and entering new
markets. As we gradually emerge from
recession, that will become a way of life.
Companies need to innovate – those
that are performing particularly strongly
are the design-led manufacturers.
In our region, we continue to adapt
and respond to our customers’ changing
situations in order to provide the
right funding to support their capital
requirements or investment plans.
your tEAM in tHE MiDLAnDs, EAst & soutH wEst
AnDrEw
connors
JAson EvAns
cLivE
HEtHErington
DEnE JonEs
Area Director,
West Midlands
andrew.connors@
lloydsbanking.com
0121 625 6552
Area Director,
South West
clive.hetherington@
lloydsbanking.com
0117 905 2110
lloydsbankwholesale.com
Area Director, South
Wales & Severnside
jason.evans@
lloydsbanking.com
07725 446 741
pHiLip fuLton
Area Director,
East Anglia
& South Midlands
philip.g.fulton@
lloydsbanking.com
01223 227478
Area Director,
East Midlands
dene.jones@
lloydsbanking.com
0115 947 1100
Autumn | 2012
18
“Lloyds Bank has continued
to support us and we’ve
managed to grow well over
the past few years.”
EwAn MoorE,
finance Director, riviera travel
Bank has worked with the company over
a number of years. “The business has
grown year on year,” she remarks. “It’s
testimony to the fact that they know their
market inside out, they plan carefully and
have adopted a cautious yet strategic
growth plan.”
ADJuSTING TO
cHAnging tiMEs
Riviera Travel’s knowledge of its market has seen it grow
successfully despite challenging environmental conditions,
with the support of long-term banking partner Lloyds Bank.
ESTABLIShED IN 1984, Riviera Travel
offers escorted tours to groups of
like-minded travellers and is one of
the uk’s leading escorted tour agents,
selling primarily through reader offers
in premium publications.
Boasting a host of awards, including
Best Escorted Tour Operator and
Recommended Provider from Which?,
Favourite Tour Operator from the
Daily Telegraph, and Second Best Tour
Operator from the Guardian, Riviera
Travel has faced a number of challenges
in recent years.
A cHALLEnging cLiMAtE
“The ash cloud, Eurostar fire, low water
levels on European rivers – the past
few years have seen all sorts of issues,”
says Finance Director, Ewan Moore.
“We’ve also seen a changing appetite
Partners in Business
for holidays. There’s generally increased
uncertainty around incomes and, because
a high proportion of our clients are older,
they’re impacted by the performance
of pensions and annuity rates.
“Despite those challenges, Lloyds
Bank has continued to support us and
we’ve managed to grow well over the
past few years. The key is to be innovative,
to constantly re-evaluate and re-develop
your offering so that you can adjust to
changing times.”
innovAtivE soLutions
Riviera Travel takes a measured approach
to risk. “We have to innovate,” explains
Ewan, “but what we don’t do is launch
too many new tours at the same time.
We keep a good balance between tried
and trusted destinations and new ones.”
Liz Fuge, Relationship Director at Lloyds
A MEAsurED ApproAcH
Ewan takes a similar approach to the
company’s finances. “Over the years
we’ve grown into many of the Lloyds
Bank services. The Bank supports our cash
handling requirements, we undertake our
card processing through Cardnet and
each service has been introduced at
the right time, when we needed them.”
Dealing with agents and suppliers
across a raft of countries, Riviera Travel
also uses Lloyds Bank’s FX management
services. “We have 12 accounts in
different currencies, including rupees,
rand, dollars, euros, dirham and Swiss
francs. We hedge the currencies
to manage risk and create a greater
degree of certainty.”
inforMAtion At your fingErtips
Riviera Travel also makes good use of
Lloyds Bank’s customisable e-solution,
Arena. “Exchange rates are so volatile that
it can be difficult to know from one day
to the next what good value is,” remarks
Ewan. “Arena is a fantastic solution. I can
review all of our currencies at the same
time, with the information literally at my
fingertips. It makes decision-making
much more straightforward.
“The live market news and the articles
and research that are available help
to inform the decisions we make as
a business.”
19
ON YOuR DOORSTEP IN ThE
MiDLAnDs, EAst & soutH wEst
ExpErtisE
Lloyds Bank’s well-respected economic finance
team produces a steady stream of sector and
region-specific reports. this research ensures
we understand the unique issues relevant
to you, while also providing all of our customers
with the knowledge and confidence to help unlock
the domestic and international opportunities
ahead. to learn about our insights, visit
lloydsbankwholesale.com/insight-and-ideas
AnALysis
Businesses right across our region should
be applauded for the way they continue to
respond to the many challenges they face
and their short-term trading continues to
do well. But uncertainty surrounding what
the world will look like in 3-5 years time is
acting as a brake on investment in the medium
term. that’s why Lloyds Bank has a respected
Economic research team, providing in-depth
analysis on topical economic, financial and
industry challenges to help you face both
the challenges and opportunities in today’s
unprecedented market conditions while also
planning for long-term growth.
growtH
As our customers look to new markets
– the west Midlands region now exports
more to emerging markets than to the
Eurozone, for example – there’s more
interest in the trade finance solutions we
can deliver. our trade finance expertise
is therefore vital for many businesses
across the Midlands, East and south
west as they seek to exploit both
domestic and international opportunities
while managing the associated risk.
our relationship teams complement
this knowledge with vast experience
of fx trading and risk management.
lloydsbankwholesale.com
“we’re competing with companies
from the us, china and across Europe.
the challenge for us is to support both
our delivery and quality promises.
the trade finance facility we have
with Lloyds Bank allows us to do that.”
JOhN MEDRAFT, CFO, Alderley Plc
“the retail sector in the current climate
might not be perceived as the most
attractive for investment, but Lloyds
Bank has been extremely supportive.
there has been some real lateral
thinking, resulting in a creative solution.”
MIkE ThOMPSON, Finance Director, CCS McLays
read more online:
lloydsbankwholesale.com/your-regions
Autumn | 2012
20
LONDON &
ThE SOuTh
London and the South play
a fundamental role in the
uk economy. We harness the
energy here, with successful
long-term relationships built
around a deep understanding
of our customers’ business
needs and use of our product
specialists to provide
finance solutions tailored
to individual needs.
Partners in Business
21
KEn DiLLEy
Regional Managing Director,
London & South
“invEsting in tHE rEgion”
We approach 2013 with a positive
mind-set and plans to further
expand our support for businesses
across the region. The coming few
months will see us further invest in
our team to meet the needs of the
various businesses and sectors we
operate in. Export growth is vital to
our economy and our Trade team
provides instrumental support to
both importers and exporters alike.
your tEAM in LonDon & tHE soutH
stEvE cLArKE
Area Director
Professional Practices,
Retail & TMT
mark.medd@
lloydsbanking.com
0207 661 4849
sHAron
gEogHEgAn
cAtHErinE
MArtin
Area Director,
Gatwick & South East
sharon.geoghegan@
lloydsbanking.com
07841 780 171
lloydsbankwholesale.com
MArK MEDD
Area Director,
Thames valley & South
steve.clarke@
lloydsbanking.com
07920 207 685
MAttHEw
pAcKHAM
Area Director,
Trade, Industrials
& Services
matthew.packham@
lloydsbanking.com
07702 675 566
Area Director,
hospitality and Leisure, healthcare,
Education, Charities & Government
catherine.martin@lloydsbanking.com
0207 356 3556
Autumn | 2012
22
“the people we’ve encountered
at Lloyds Bank are approachable
and they share a can-do
attitude, rather than merely
a tick-box approach.”
MArtin iBBotson, fD, Melrob
AN intErnAtionAL
PRESENCE
Melrob, a distributor of technical products and services
within the chemical industry, needed innovative and
forward-thinking funding to grow its business and support
its expanding overseas footprint. Lloyds Bank stepped
in with a truly international offering.
FOuNDED IN ThE MID-90s, Melrob
has grown year on year, from a turnover
of £4m in 2003 to £50m in 2011.
After launching a subsidiary in Japan,
ostensibly to source materials, the
company launched offices in Germany
and then Singapore. In 2011, Melrob
purchased a further firm in Japan and
now employs 45 people globally.
A funDing conunDruM
“The nature of the business means that
we don’t have a great deal of assets to
Partners in Business
secure finance against,” explains
Melrob’s Finance Director, Martin
Ibbotson. “But we do have debtors.
In the uk we’ve used Invoice
Discounting to fund our working
capital and we wanted to expand
that to exploit the ‘assets’ we had
in our German warehouse.”
unfortunately, Melrob’s incumbent
bank was unable to offer the business
invoice discounting through its German
subsidiary. And that’s where Lloyds Bank
stepped in.
A gLoBAL nEtworK
“We were initially rather sceptical of
Lloyds Bank whom we viewed as a pretty
uk-centric bank and wondered whether
they’d be able to support a business
like ours, which has 40% of its business
in the Far East,” states Martin.
In addition to providing fresh working
capital in Germany, the Bank also
supported Melrob’s acquisition of
new premises in Singapore.
“What the experience has taught us
is that very often, banks that say they are
global actually aren’t. With Lloyds Bank,
we’ve found that they have a network of
associate banks across the world, and
that works better for us. So, in Singapore
for example, Lloyds Bank has
introduced us to their associate bank
and the relationship is working well. It
demonstrated Lloyds Bank’s global reach.”
A strAtEgy for growtH
Iwan Jones, Relationship Director
for Melrob at Lloyds Bank, is delighted
with the success of the relationship.
“There’s a misconception that Lloyds
Bank is focused on the uk. Relationships
like Melrob show that we can and
do support customers wherever their
business takes them. We can open
up markets and opportunities for
our customers.”
Martin has been impressed with the
closeness of Lloyds Bank’s relationship
with the business. “It’s refreshing
to encounter a bank that we feel can
work with us on our strategic plans.
The people we’ve encountered at Lloyds
Bank are approachable and they share
a can-do attitude, rather than merely
a tick-box approach.”
23
ON YOuR DOORSTEP
IN LonDon & tHE soutH
growtH
Events of 2012 have created both
challenges and opportunities for
businesses in London and the
south East. these companies
should be praised for their
responses in pursuing strategies
for growth and stability.
sEctor & rEgionAL
KnowLEDgE
in London, our teams are
organised by sector which ensures
we understand the unique
priorities and needs of industries
as varied as manufacturing,
education, charities, retail, leisure
and technology. Across the region,
covering gatwick, the south East
and thames valley, our experience
of local needs and priorities allows
us to deliver strategic support
when and where it is most needed.
innovAtion
our e-solution, Arena, provides
treasurers with finger-tip access to
our fx and money markets expertise.
it combines rich intellectual capital,
such as markets news, interactive
charting, risk analytics tools and
proprietary economic research, with
a customisable interface allowing
you to make informed trade decisions
from your desk.
lloydsbankwholesale.com
“it’s reassuring that we have
a banking partner who shares
our vision and whom we’re
comfortable working with
to realise that ambition.”
ALEX MCLAuChLAN, Finance Director, hawksmoor
“they have a good understanding
of the sector, so they’re familiar
with the challenges. their detailed
knowledge of the hotel industry
and of our business really makes
a difference.”
ALY kASSAM, CEO, Crimson hotels Group
read more online:
lloydsbankwholesale.com/your-regions
Autumn | 2012
For more information, please speak to
your local Relationship Director or visit
lloydsbankwholesale.com
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sent by e-mail. Lloyds Bank, Lloyds TSB Corporate Markets and Lloyds TSB are trading names
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Markets are trading names of Bank of Scotland plc. Lloyds TSB Bank plc. Registered Office:
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Scotland plc. Registered Office: henry Duncan house, 120 George Street, Edinburgh Eh2 4Lh.
Registered in Scotland no. 95237. Bank of Scotland plc. Registered Office:
The Mound, Edinburgh Eh1 1YZ. Registered in Scotland no. 327000. Authorised and regulated
by the Financial Services Authority under registration numbers 119278, 191240 and 169628
respectively. FDs’ Excellence Awards in association with the ICAEW and supported by the CBI
& Real Business. Business Bank of the Year was won in 2011 & 2012 by Lloyds Banking Group plc
which includes the operating subsidiaries: Lloyds TSB Bank plc, Lloyds TSB Scotland plc
and Bank of Scotland plc. From 2005-2010 this award was won by Lloyds TSB Bank plc
and Lloyds TSB Scotland plc.
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