Shropshire stationery giant Lyreco says it plans to 'grow like crazy'

The Telford-based company achieved increased sales despite a challenging market in the last full year, its accounts show, after it grew turnover from £227.1 million to £228.8 million in 2013, and now says it wants to "grow like crazy".

However, pre-tax profit declined from £15.6 million to £13.2 million for the former Shropshire Business Awards Company of the Year winner.

In a report accompanying the accounts, the company said: "Profit before tax represents an excellent return during a challenging but gradually improving economic period.

"The company maintained strong control over its operating expenses and continued to focus on driving efficiencies and maximising working capital opportunities."

The report adds: "The turnover for the next financial year is anticipated to exceed £230 million, again, in an environment showing ongoing controls on expenditure by clients. The company maintained its Investors in People status throughout 2013.

"The company's mission statement is to delight customers, be proud of what we do and grow like crazy. The company aims to position itself as the biggest and best office and work solutions provider in the UK."

The number of people employed by the company, which has its huge distribution centre at Donnington Wood in Telford, reduced slightly over the course of the year, from 1,412 in 2012 to 1,375 in 2013, although the renumeration paid to employees increased from £39.2 million to just shy of £40 million.

Net assets increased year-on-year from £88 million to £97.8 million, following the profit Lyreco achieved in the prior year.

The latest performance has helped the company achieve the highest rating of creditworthiness and lowest risk of failure from business-to-business data company Dun and Bradstreet.

Following the publication of the latest results, Lyreco's UK managing director Peter Hradisky – who took over in 2012 – said: "As a business we continue to grow through workplace categories such as personal protection equipment, hygiene and catering and have been heavily focused on ensuring we deliver on our new mission statement – to simplify life at work – for our customers.

"Putting the customer at the heart of our business and listening to their needs is a key part of our strategy for continued improvement."

French-owned Lyreco opened its huge, £28 million Deer Park Court headquarters in Telford in 2001, relocating from another premises in Stafford Park as it did so, and has grown to become one of Telford's largest employers since its arrival in the county.

The company recently announced it was working with another major Shropshire employer, Burnt Tree, by ordering 57 new Mercedes vans from the Shrewsbury firm on a five-year contract hire deal.