ROOFING company Weatherproofing Advisors, which has worked on major projects at Euston Station in London, Aberdeen International Airport and Glasgow Royal Infirmary, is planning further expansion across southern England with funding from Bank of Scotland.
The firm, which is based at Blantyre in Lanarkshire, highlighted its desire to capitalise on strong market conditions.
It has secured a £1.2 million invoice-discounting facility from Bank of Scotland. The bank said that this facility would enable the company to access up to 90 per cent of the value of issued invoices, usually within 24 hours of them being raised.
Weatherproofing Advisors was founded in 1987, and has 115 staff spread across sites in Blantyre, St Helens in north-west England, Newcastle and London.
The company has raised its annual turnover from £11m to £14m. And it is targeting annual turnover of £20m by 2020.
Colin Henderson, finance director of Weatherproofing Advisors, said: “The new working capital facility gives us a solid platform from which to grow the business further. In the construction industry, payment terms are not always favourable, so having quick access to an element of our debt book is absolutely fundamental to our growth.”
He added: “This is an exciting time for the business. The market is a lot healthier than it has been for the last five or six years, and has really picked up in the last 12 months.”
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here