GAMEPLANSECRETS OF SUCCESS

C O M M E R C I A L B A N K I N G

As Lloyds Bank marks 250 years of helping Britain prosper, we take a look at three UK companies that have pursued different but

effective routes to success over both the short and the longer term. From a family firm with a 300 year heritage to a comparatively youthful

business that has quickly laid solid foundations for the future, we illustrate that resilience and growth take many forms.

BUILDING ON CORE VALUESSALTS HEALTHCARE

As a family business we share the same ideals as previous generations around delivering excellent patient care. For us,

the company is an extension of the family and as a team we all understand where we’re going and work together to get there.

PHILIP SALT CEO, Salts Healthcare

FOUNDERS John and William Salt (brothers)BASED West MidlandsINDUSTRY Healthcare productsSIZE AND STRUCTURE Still family owned with three members of the Salt family on the Board. 500 employees and distribution to 22 countries

1701Established as a cutler and makers of surgical instruments.

Mid-19th centuryAppointed cutlers to HM Queen Victoria and the Emperor of France.

1948Diversifies into hand production of ostomy bags.

KEY MILESTONES 1956Becomes the first UK manufacturer of ostomy appliances, and begins teaching stoma care to new patients.

1996Launches a new R&D facility to develop modern hydrocolloid for stoma pouches.

2001Marks 300th anniversary.

1989Launches Medilink, a nationwide home delivery service for ostomists.

1914Production of surgical instruments and artificial limbs increases with World War I.

TodaySalts continues to innovate in its field.

PHILIP SALT’S TOP TIPS FOR LONG-TERM SUCCESS

1 Ensure each generation brings something new to the company

2 Innovate to stay relevant

3 Add value to your processes

INVESTING IN THE FUTURECOSTAIN GROUP

Consistent behaviour and a proven track record give us credibility in our markets. Investing in people

and innovation and building collaborative relationships with our customers at a strategic level maintains that credibility.

TONY BICKERSTAFF Group Finance Director, Costain Group PLC

FOUNDER Richard Costain BASED BerkshireINDUSTRY EngineeringSIZE AND STRUCTURE Publicly traded since 1933. Costain has more than 3,300 employees and turnover of £1.1bn in 2014. It operates across a number of global sectors including rail, highways, power, water, nuclear process, oil and gas.

1865Richard Costain and his future brother-in-law start trading as jobbing builders and undertakers.

KEY MILESTONES

1920sBegins housebuilding in the London suburbs.

1935Builds Europe’s largest block of flats at Dolphin Square, London – and 11 miles of the Trans-Iranian Railway.

1940sHelps build the portable Mulberry Harbour used in the D-Day invasion.

1951Constructs Festival of Britain site.

1972Completes Hong Kong’s first cross-harbour tunnel.

1994Channel Tunnel opens. Costain was a founder member of the Channel Tunnel joint venture.

2010New Civil Engineer magazine names Costain ‘Contractor of the Decade’.

2015Marks its 150th anniversary year.

TONY BICKERSTAFF’S TOP TIPS FOR LONG-TERM SUCCESS

1 Take the strengths from your past

2 Build on today’s opportunities

3 Look to future innovation

4 Stay one step ahead of your customers’ needs

CUSTOMER FOCUSSTORY HOMES

The essence of our business isn’t rocket science – it’s a strong customer focus and a commitment to doing

the right thing. If that means missing a target, so be it.

FRED STORY Chairman, Story Homes

FOUNDERS Fred Story BASED CarlisleINDUSTRY HousebuildingSIZE AND STRUCTURE Family owned business with 183 staff. Profits for 2014 were £6.3m, up 67% on the previous year.

1987 Founded as Story Construction (which later became Story Homes and Story Contracting).

KEY MILESTONES

1988Completes first development of four properties.

1991Receives Royal Town Planning Institute Award for Quality in the Environment.

2010Named Small Housebuilder of the Year at the Scottish Home Awards.

2012Establishes first regional office in Newcastle.

2015Appears on the Sunday Times Profit Track 100 – for the fourth time.

FRED STORY’S TOP TIPS FOR LONG-TERM SUCCESS

1 Strive to be better tomorrow than you are today

2 Create a business model that works for your industry;

in our case maintaining low gearing

3 Don’t compromise quality

SECRETS OF SUCCESSA LOOK TO THE FUTURE

Great businesses are built on strong foundations.

But it doesn’t stop there: invest in a plan that goes

beyond five years and set achievable goals.

PHILIP SALT CEO, Salts Healthcare

Make sure your company has a clear purpose that everyone

understands, and a strategy that supports it. And remain focused on what your customers really need – not what you want them to need.

TONY BICKERSTAFF Group Finance Director, Costain Group PLC

For a family business to be successful, the next generation must be involved and motivated.

Whether or not family are involved in strategic plans, you need to seek out a successor

with enthusiasm and determination. Put your business in safe hands.

FRED STORY Chairman, Story Homes

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