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Sea salt business targets export boost

Cornish Sea Salt Company, which provides natural salt products from its base in Helston, is targeting increased exports after securing £1.3m in funding. The business has received £975,000 in growth capital funding from Santander Corporate & Commercial and a £307,000 grant from Cornwall Marine Network that will be used to target increased international sales and expand its UK production facilities. The firm already exports to over 30 markets and is expecting to double the number of staff at its Cornwall facilities over the next 18 months from its current level of 29. Revenue for the 2015 financial year is forecast to grow 28% year-on-year to £2.3m, with Ebitda earnings up 229% to £230,000. Peter Abel, director of growth capital at Santander Corporate & Commercial, said: 'The Cornish Sea Salt Company is benefiting from strong organic growth both in the UK and internationally as well as through a broader product range. The business now exports to over 30 global markets and has benefited from distribution relationships developed in the US through Santander's Breakthrough US Trade Mission back in 2013.'

 

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