December 18, 2009

Shred-it Turnover to Hit £27m

This article was published in The Business Desk
By Joanne Birtwistle - Deputy Editor

Document destruction firm Shred-it, which has its UK headquarters in Manchester, has said it is on target to beat turnover expectations by more than 28%, and plans to grow by a further 30% in 2010.

The company, which has a 10,000 sq ft facility in Trafford Park and opened its head office in Sale earlier this year, operates a network of 15 branches nationwide.

Talking to TheBusinessDesk in August, it said it had expected full year turnover across the UK group to hit £21m, but that target has been smashed and the firm saw total sales turnover exceed £23m between January and October 2009 – a 15% on the corresponding period in 2008.

It now expects to hit £27m for the full-year to the end of December 2009, and has ambitious plans to grow UK sales turnover a further 30% to more than £35m during 2010.

In August, the company said it expected full year revenues from Manchester to hit £4.5m, despite the tough environment. But year to date sales show the Manchester division has also exceeded expectation, hitting £5m.

The Manchester hub was the first to be opened in the UK by its Canadian parent, back in 1999. Around 70 staff work across the two sites in Manchester and the firm plans to take on an extra 10 staff at the operational support centre in Sale, as well as the hiring an additional 35 staff at other sites across the country, taking the total number of employees to 404.

The company also plans to open new branches at locations in South Wales and Norfolk during 2010.

Robert Guice, executive vice president of Shred-it UK, said: "This has been a momentous year for our UK business, which has flourished as public and private sector organisations have grown more aware of the financial and reputational risks associated with breaches of confidential data.

He added: "This success has given us the confidence to both invest in our business and put in place a blueprint for sustained growth into 2010 and beyond."