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King’s Lynn-based book company sees profits soar and plans further expansion

Business news from the Lynn News, lynnnews.co.uk, @lynnnewscitizen on Twitter

Business news from the Lynn News, lynnnews.co.uk, @lynnnewscitizen on Twitter

Lynn-based Haven Books, the leading provider of book collections for nursery, primary and secondary schools across the UK, is set for growth after the success of Badger, its publisher brand, which has seen its profits soar by 130 per cent.

Badger’s profits jumped to £90,000 in 2013/14 from £39,000 in 2012/13. Another success was the firm’s Guided Reading product, which saw sales increase by over a quarter to £334,000. A 40 per cent leap in web sales was a major factor in this achievement.

Haven, which has its head offices in Oldmedow Road, Hardwick Industrial Estate, employs 96 staff and expanded its premises in Stevenage earlier this year. The company, which reported turnover of £5.8m in 2013, has focused on improving its online presence and has launched a new website aimed at providing an improved customer experience alongside the latest design and social communication capabilities.

The company is planning further expansions this year, and has become a member of UK Trade and Investment to supplement its interest and investment in driving international schools growth.

Steve Cheetham, managing director at Haven Books, said: “We are delighted with the level of growth we have seen in the last 12 months. The progress of our Badger publishing brand, alongside the growth of our other products, has enabled us to expand the business, both in staff numbers and online presence.

“Our work with UKTI on international schools is something we are much looking forward to, and with the foundations now in place, 2014 promises to be another successful year.”

Haven was backed by private equity house Key Capital Partners in 2008 to promote the broadening of the service provided to schools.

Mike Fell, investment partner at Key Capital Partners, said: “The company’s success is a testament to the strength of the management team, and we are pleased to have been able to help them achieve this growth. The new website is a great opportunity for further profit growth, and we are excited about the company’s prospects this year.”

 
 
 

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