A LEADING NORTH EAST company which supplies hospitality outlets nationwide with crockery, cutlery and glassware has unveiled its growth plans, following a strong year in trading.
The IG Group, based at Peterlee, experienced a slow down in the traditional hospitality sector outlets during the pandemic, however coming out of COVID, this sector has made a very strong recovery.
Following this positive growth and success with gaining supply contracts for major national pub groups, IG Group has invested in additional warehousing to facilitate further growth.
This new warehouse represents an investment of £3m, which includes the creation of an additional 90,000 sq ft warehouse facility in East Durham located at Swan Road, South West Industrial Estate, Peterlee adjacent to the current IG distribution centre on the North West Industrial Estate
During the difficult trading period through Covid up to year ending July 2021, Innerglass Limited -IG Group’s parent company – despite a slight sales dip from £22.2m to £21.5m, pre-tax profits increased from £232,110 to £1m, with EBITDA also rising from £475,669 to £986,709.
IG Group supplies non-food consumables to a wide range of sectors from traditional hospitality to contract cleaning to care homes, and it is this spread of customers which has helped achieve the positive trading results, according to managing director, Stephen Hoey.
“We recognise this can only be achieved by working closely with all our customers, and we would like to thank all our customers for their continued support, particularly during Covid,” he said.
“During the pandemic, our sales into the hospitality and contract cleaning sectors was significantly affected, however, our care home division grew significantly and by quickly developing a PPE range, we gained significant new business.”
2020-2021 IG group business strategy was to review and improve the business internally and introduce new efficiencies in all departments, as well as using the time to develop the staff, and this was achieved by the support from HSBC, Durham County Council’s business development team and the Government support package.
“Through Covid we retained our skilled workforce and invested in a progressive training programme to develop the team further and achieve a high level of customer service,” said Mr Hoey.
“Combined with our investment plans, this has meant that we were able to target new national customers and win long term contracts with them.”
IG Group is currently negotiating with a number of national accounts who are poised to award the company long term contracts.
The new warehouse facility – which will cater for an additional 8000 pallets of extra products to be held – is scheduled to be open in 2023.
The family-owned company, which has been operating for more than 40 years, is based at Peterlee’s North West Industrial Estate.
For further information visit www.ig-groupuk.com
