Major turnaround in fortunes of Uckfield-based business
A major turnaround in the fortunes of Uckfield-based TR Fastenings is under way.
Executive chairman Malcolm Diamond, who shareholders brought back to the business after it ran into problems, said in a statement: “If you compare our performance since March, the business has gone from a record loss in the second half of last year to a break-even position by the end of September with improvements being achieved across the company in morale, sales focus and dynamics, purchasing and supplier development.
“This gives us confidence that we will restore modest profitability by the end of this financial year.
“The TR Group is now moving steadily from Recovery to Rebuild.”
Mr Diamond said the management team was optimistic about the future business outlook, although it was “challenging”. “We are still firmly of the opinion that much of our recovery capabilities remain in our own hands.”
* Uckfield Farmers’ Market is in the frame for glory at the Sussex Food and Drink Awards on January 28.
The awards dinner is at the East Sussex Golf Resort and Spa, Little Horsted. The Uckfield market is up against Pulborough and Shoreham for the title of Best Sussex Farmers’ Market.
* Mark Froud, the Chief Executive of Sussex Enterprise, the county’s chamber of commerce, said many firms in Sussex are faring better in the recession than those elsewhere.
He said said 2009 had been a rollercoaster ride for businesses locally and across the globe. In his review of the year he said: “What the global economic meltdown has done is helped us all focus on the priorities. It’s made us look at the key areas of our business and examine what needs to be done to survive.
"This means that many local businesses have adapted to the changing environment and become more streamlined and efficient. Despite rising unemployment and slow economic activity Sussex businesses are faring better than many across the country.
“Local firms are telling us they’re more confident about the future than they were a year ago and although there are still many challenges to overcome they are expecting orders to pick up next year.”
* Small and medium-sized firms are to be given help to find work with public sector construction companies.
The initiative will be launched at a meeting near Uckfield later in the month.
Led by the East Sussex County Council and Brighton & Hove City Council, ‘Build East Sussex' is a network of construction companies, subcontractors and business support organisations.
The new network will inform firms about potential projects, and what they need to do to improve their chances of being able to quote for the work available.
The network will also offer appropriate business support throughout the process.
It will be launched at East Sussex National Golf Club and Spa at Little Horsted on Wednesday, January 27, with a Construction Marketplace event including exhibitions and networking opportunities.
Councillor Peter Jones, Leader of East Sussex County Council, who will be giving a keynote speech at the launch, said: "Small and medium sized businesses are vital to the prosperity of our two areas and we want to make sure that they are best placed to take advantage of the many opportunities in construction coming their way.
"We want to help them to help themselves by being aware of potential clients who may prove to be the lifeblood of their business in the future."
The free event on 27 January is an opportunity for businesses to:
* find out about potential projects in the area;
* meet contractors who will be leading projects;
* find out what requirements they must meet to increase their chances of working for the contractors;
* meet a range of business support organisations which can assist them in meeting those requirements.
If you would like to attend, email admin@buildeastsussex.co.uk with names of delegates and anticipated time of arrival. Businesses that would like more information should call Grant Farrell on 01273 291463.
* Plans for the Ashdown Business Park: http://bit.ly/8ZDE96
*Marketing Eye celebrates opening of new offices in Uckfield: http://bit.ly/7D2rrD
* Read about Uckfield High Street in our Personal Shopper column
(Added to site Friday, January 1st, 2010)
