A Fylde electrical contractor says a revival in the construction sector will help it create 15 new jobs and grow turnover by 25 per cent in 2014.
DES Electrical, of Poulton, has won new clients and grown its market share as the construction sector has recovered in recent months.
The firm, which was founded in 2000 by chief executive Bill Dugdale, has 60 staff, including 45 electrical engineers and 12 apprentices, based across the UK.
The award-winning firm recently took home five awards at the annual Willmott Dixon – Cobham LCO, Supply Chain Conference, including Sub Contractor of the Year.
Turnover last year was £5.2m and DES is looking to boost revenues in 2014 thanks to the support of a new funding line from Lloyds Bank.
Managing Director Sean Egan said: “The new facility has given us the capital to invest and take advantage of growth opportunities.
“We are looking to increase our workforce this year, including engineers and apprentices out in the field, as well as office staff at our head office in Poulton.
“2013 was a challenging year with the UK economy still in recovery. However, through close collaboration with our clients and our supply chain partners we have been able to deliver high-quality projects, leading to a strong forward order book and engineering cost efficiencies.
“We are confident that we will build upon our positive trading results during 2014.”
DES Electrical has also switched its banking to Lloyds Bank Commercial Banking.
Sean added: “We immediately connected with Lloyds within the introductory meeting. We are a people-based business and it’s important we share the same values and vision as our banking partner.”
Rob Walters, Regional Manager, Lloyds Bank Commercial Finance, said: “This funding will allow DES Electrical to confidently quote for more and larger projects.
“Our latest Business in Britain survey found that business confidence has hit a 20 year high, reflecting rising expectations for orders, sales and profits over the next six months.
“I look forward to watching DES Electrical expand and take on more work with Lloyds’ support.”
James Todhunter, from Lloyds Bank Commercial Banking, said: “We are delighted that DES Electrical is continuing to go from strength to strength and have taken this opportunity to bring all their day-to-day banking business to Lloyds Bank.
“We look forward to continuing to support the business as it targets further growth from a range of sectors.”