Member Article

Sheffield construction firm doubles turnover

Plast-Tec Plastering Systems Ltd, a Sheffield-based construction business, has increased its turnover to £1.7m in the last year with the support of an overdraft from Lloyds TSB Commercial Banking and a £100,000 factoring facility from Lloyds TSB Commercial Finance.

Founded in 2006, Plast-Tec provides a range of plastering and finishing services to construction contractors for a variety of refurbishment and building projects, from schools and new residential homes to retail premises and industrial buildings.

Recent projects include the refurbishment of 800 houses in Nottingham for Keepmoat in conjunction with Nottingham City Council and the Nottingham Energy Partnership.

Other recent Plast-Tec commissions include the drylining of Ironbridge Power Station in Shropshire, and a brand new fit out to the Pavilion Bar and Restaurant at Canary Wharf in London. Over the last two years, the business has doubled its turnover from £800,000 to £1.7m.

Mark Rice, managing director, of Plast-Tec Plastering Systems Limited, said: “We’ve been able to take the business from strength to strength in the last two years, doubling turnover and working on some exciting projects.

“Without the funding from Lloyds TSB Commercial Finance we would not have been able to expand so quickly and successfully.”

Charlotte Jackson, regional manager for Lloyds TSB Commercial Finance, said “Plast-Tec’s success is based on forming a close working relationship with clients, offering them reliability and value for money.

“As part of the company’s growth plans, factoring has allowed Plast-Tec to borrow against invoices, helping the company to manage cashflow and fund new projects.”

This was posted in Bdaily's Members' News section by Mark Lane .