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Wed May 29 2024

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Shepherd secures funding for growth

4 Sep 12 Shepherd Group has won support from its lending banks to the tune of a £50m revolving credit facility and a £20m working capital facility.

The group, which includes Portakabin, Foremans and Yorkon, has secured the backing from HSBC and Lloyds.

Shepherd Group chairman Alan Fletcher said: “This facility strengthens our financial position and demonstrates significant confidence in the potential of the group, providing us with additional flexibility and capacity for growth.”

Martin Lunt, HSBC’s head of corporate banking in Yorkshire, said: “While some businesses operating in the construction sector have experienced challenges in achieving growth through the recession, Shepherd Group has continued to thrive, demonstrating that a forward thinking approach can overcome barriers presented by market conditions.”

With a profit margin of 5.2% last year, Shepherd is one of the most profitable companies in the construction sector.

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