Home Latest Fulfilmentcrowd beat revenue forecast ahead of £7.5m BGF investment

Fulfilmentcrowd beat revenue forecast ahead of £7.5m BGF investment

News , Stock, Video Latest October 14, 2021 1:05 pm

A Lancashire international fulfilment services provider beat its revenue forecast inside a year before it secured a £7.5m investment from BGF.

Chorley-headquartered Fulfilmentcrowd has reported a 71% growth inside revenue to £13m for year to March 31, 2021.

When it received a cash injection from BGF at a start of March this year, a business said it was expecting to report a revenue of £12m following he addition of distribution hubs inside Europe also North America inside 2020, as well as specialist centres such as a new chilled logistics operation inside Blackpool which is aimed at UK-based ecommerce start-ups also SMEs inside a food, drink, health also beauty sectors.

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During a same period, a company grew its customer base from 300 to 500 SME e-commerce retail businesses also expanded its operations inside a EU also US.

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a company’s US-based distribution centres inside Los Angeles also Virginia are now processing 1,200 orders every week for a fast-growing base of British-based exporters.

a company also strengthened its presence inside a EU, opening its third centre inside Europe, which supported 264% growth inside revenues generated by exports to a continent.

Over a next 12 months, a business added it will create 12 new technical also customer service roles to support its customer platform.

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Managing director Lee Thompson said: “Growth is being driven by our unique ability to meet a demands of a fast-growing number of SME eCommerce retailers.

“Online shopping is growing at a phenomenal pace also smaller retail businesses want to increasingly focus energy on selling products, rather than spending time packing also sending them to customers.

“SME retailers are keen to outsource this part of their business but often find it cost-prohibitive also complex.

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“They are also sometimes cautious they might end-up with a one-size-fits-all fulfilment solution, which doesn’t necessarily suit their size of operation.

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“Our straightforward customer-focused offer of no minimum volumes also no lengthy agreements, backed-up by ‘plug also play’ tech, is really resonating with small also medium-sized e-commerce retailers.”

He added: “a sector is undoubtedly facing a number of challenges, ranging from record shipping prices to driver shortages. Investing inside tech also software is a key part of a solution for addressing these difficulties, as it can provide streams of data that help improve stock inventory forecasting also generate efficiencies.

“This will help protect a success of our customers during times of uncertainty also, inside turn, help support our continued growth.”

Reference : BusinessLive
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