Crawford Healthcare seeks to double global revenue

Crawford Healthcare seeks to double global revenue

Wound care and dermatology business Crawford Healthcare is aiming to double its half year global revenue of £13m by next March as it seeks to "look beyond the shores of Europe" for further expansion.

The Knutsford-based company, which employs more than 130 staff, said its latest published results showed international sales accounted for 10 per cent of the business but it expects that to increase to at least 50 per cent in the next three to four years.

Finance director Spencer Kerry said: "We’ve got a really strong UK business but we’ve also been investing heavily in building a sales team in the US and Germany as well.

"This year, those two sales teams have really started to pay dividends and over the last couple of years we have more than doubled our sales here year-on-year. In America, we’re looking to do the same again for the year to March 2017."

Crawford Healthcare also has distributors in other markets around the world and sells its products in the Far East through to South America.

Kerry said: "Other markets that are really important to us from a wound care point of view include the Middle East, Australia, and Scandinavia.

"Our UK business will continue to grow considerably and our UK wound care is growing at 35 per cent a year, so we aim to continue our growth in the UK but we will expect to grow much quicker in the US and Germany."

When asked about the impact of the UK’s Brexit decision, the business said currency devaluation has been the main issue.

Kerry said: "In the long run it will be a benefit to us as we are an exporter but the main issue at the moment for us, or the main impact of Brexit, is currency devaluation. We’ve seen a 15 per cent devaluation in sterling vs the dollar and 10 per cent vs the euro, so in the long run as an exporter that will be a good thing."

He added: "There are also other challenges such as what the relationship is going to be like with the EU. It is important for us as a country to stay attractive to investment but I think the life science sector is very important to the UK economy and the North west economy and we’re a partner in the Northern Powerhouse so we are hopefully flying the flag for life sciences in the North West.

"As a company which is being bold and exporting, we are well positioned to champion that success. I think we’ve got an even better opportunity to be competitive in Europe but we also need to look outside Europe which is one of the reasons why we have a business in America.

"Wound care is a global industry and so we will look beyond the shores of Europe to the Middle East and Australia."

In addition, Crawford Healthcare said it has some new products in the pipeline which is hope to make its attractiveness as an exporter even stronger.

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