Bibby Financial Services

Bibby Financial Services

December 14, 2012 04:00 ET

Industry Trend Bucked by Manufacturing and Construction Sectors

LONDON, UNITED KINGDOM--(Marketwire - Dec. 14, 2012) - According to the latest data provided by factoring specialists Bibby Financial Services, small and medium-sized enterprises that have the support of business funding facilities are outperforming the rest of the UK for Q3 in 2012, in terms of growth and turnover.

The turnover and performance of Bibby Financial Services' 4,000 clients is tracked by the Business Factors Index, which has revealed a four percent increase in activity over the first three quarters of 2012 compared to the same period last year.

Furthermore, it was also revealed that those clients in the construction and manufacturing sectors experienced increasing turnover levels over the same period of time, bucking the trend in their sectors when it comes to growth.

According to data provided by the Office for National Statistics, output in the construction sector fell by 0.9 percent in August, whilst manufacturing dropped by 1.1 percent during the same period. The Business Factors Index, used by Bibby Financial Services, tracking a level of performance against a base rate of 100, found the figures for Q3 were up on Q4 by 5.5 in manufacturing and 0.9 percent for construction.

The invoice finance specialist commented that the increase in activity amongst its client base, compared to date provided by ONS, shows clear evidence that businesses with a flexible funding facility are beginning to recover from the recession and head towards a sustained period of growth.

Notes to editors

About Bibby Financial Services

Bibby Financial Services is the UK's leading invoice finance specialist, currently providing cash flow funding for nearly 3,940 businesses through a number of solutions including factoring, invoice discounting and export factoring for overseas trade, handling annual client turnover of £3.9 billion and advancing in the region of £342 million.

With a network of 16 local offices throughout the UK, Bibby Financial Services has the capability, flexibility and independence to make informed funding decisions quickly and efficiently. Bibby Financial Services supports businesses in both the UK and overseas, utilising expert knowledge from more than 27 years' experience, helping companies regardless of size or industry sector.

Bibby Financial Services recently secured a £340 million refinancing facility ensuring its ability to meet increasing demands for its finance facilities.

In 2012, the company was awarded a place in The Sunday Times 100 Best Companies to Work For, based on workplace performance and best practice.

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