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P DRINKS LOGISTICS
Page 8
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London City Bond in good spirits
DESPITE A STRUGGLING market for alcoholic beverages, &Inks logistics firm London City Bond (LCB) remains confident about the prospects of doubling its volumes before 2014.
As Essex-based LOB enters year two of its fiveyear growth programme, it says it is in a strong position for expansion, after a series of cost-cutting initiatives implemented over the past year.
October volumes rose 6% compared with October 2008, and LCB expects to report a rise in turnover of 3% for the year ended 30 September It had turnover of £26.9m for the 12 months to 30 September 2008.
Meanwhile the company revealed last week that it has scooped a major' three-year ware
housing and distribution link-up with drinks supplier Adel UK.
'We have a customer base of 10,000, and that is a mixture of small and large clients, but what we want to do is increase the size of clients we take on since big wins can help to cope with lower volumes and take advantage of our storage facilities,' says LCB non-executive chairman Jeff Stanton.
Since January, LCB has improved vehicle utilisation from 80% to 90% by consolidating loads.
Stanton says a selling point has been the introduction of electronic proof of delivery technology. He adds that LOB is set to close two of its seven warehouses in 2010 to consolidate operations: "We won't be able to see clearly until after Christmas if volume growth is maintained."