One of the UK’s leading film location services company grows 18%
Mon 14th Aug 2023
James Williams, CEO of Supply 2 Location Group, one of the UK's leading supplier of location services and logistics to the film and HETV industry, issued the following trading statement today:
Following the conclusion of our management buy-out in June 2022, we are delighted to announce that our turnover for the year ending 31st May 2023 was £10.2m which is an 18.4% increase on last year and maintains our profile of sustained growth over the last four years. This increase is reflective of the success and continued growth of the UK's film and HETV industry.
Over the past year, we have also made several strategic investments in our overall plan to complete our UK-wide network.
In December, we opened our Northern depot, quickly followed by our second Scottish depot at Pioneer Studios and our seventh depot serving the Midlands. These new depots will continue to contribute to our growth by providing a highly effective, seamless, integrated hub and spoke network across the UK.
As part of our strategy to reinvest in the latest equipment including environmentally friendly plant, Stage V generators and battery solutions, we have maintained our capital expenditure in line with the previous year at £1.5m.
We are currently in negotiations to establish our first international depot. Whilst at the feasibility stage, it is an exceptional opportunity and would represent a significant step forward in our business development plan.
The industry as a whole, including supply chain infrastructure and technical operations, continues to be affected by the ongoing screenwriters' and actors' strikes in America. This will have a far-reaching financial impact around the globe, and we can only hope that it is quickly resolved. Our Group’s exposure to this is mitigated by our broad UK customer base and our diversification into infrastructure support and maintenance including generator refurbishment for major UK blue-chip organisations, which continues to expand weekly.
Supply 2 Location Group continues to lead the way in offering innovative, cost-effective, and flexible solutions tailored to our clients' budgets, time and location constraints. This depth of experience and determination to be the industry market leader in providing a quality service to the world’s leading TV and film production companies has seen us support this year Walt Disney ‘Indiana Jones and the Dial of Destiny’, Warner Bros ‘The Batman’, Paramount ‘Mission Impossible - Dead Reckoning’, Sony TV ‘Outlander’, Amazon ‘The Rig’, Apple TV ‘Silo13’, Netflix ‘Bridgerton’ and Netflix ‘The Witcher’.
Our goal is to continue to develop the S2L brand and growth of our Group, increasing employment opportunities, improving our levels of service and evolving our range of sustainable equipment.