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Saturday, 30 August 2014

Cash gift ensures Furness Factory staff end year on a high note

CHRISTMAS bonuses are a concept many may miss out on this year, as the recession refuses to relinquish its tight grip on the economy.

But for the 150 workers at one Furness factory, success has been a big part of 2012 and their efforts have been rewarded in the form of a brand-new £50 note.

Wax Lyrical owner Mike Armstead has spearheaded huge success at the Lindal-based candle manufacturing business since he took over at the end of 2006, and to thank his workers he gave them each £50 as a Christmas bonus this year.

“Our success is down to the hard work of our workers and I wanted to give them a special Christmas bonus as a thank you,” he said.

Wax Lyrical was struggling under mounting debts of £14m and was losing £5.5m a year. But now, thanks to continued investment in staff and the company, Wax Lyrical is debt-free for the first time and Mr Armstead has just invested more than £1m in new systems and machinery.

A modest Mr Armstead, who was initially reluctant to publicise handing out a total of £7,500 to his workforce – from his own pocket – said he was keen to reward staff for their dedication.

He added: “We’ve had the best year in a long time – for more than a decade – and the best year since I have been here. We’ve made a lot of investment and changes and that has put people under pressure.

“It’s been an exceptional year and I wanted to do something to thank everyone for what’s been an incredibly busy year.”

In the Christmas cards he gave to staff, containing the £50 notes, Mr Armstead wrote: “By most measures 2012 has been the most fantastic year for Wax Lyrical Ltd.

“We have invested over £1m in the factory and new IT systems.

“In an incredibly tough year we have grown sales and held margins.

“We have managed to get through the year without borrowing a penny from the bank, despite the £1m investment.

“The combination of growth plus investment has meant that most people have had to work that bit harder.

“Exceptional effort deserves an exceptional gesture, please find enclosed my personal thank you!”

Have your say

How lovely to read some positive news for a change. Well done everyone at Wax Lyrical.

Posted by Sarah on 20 December 2012 at 21:43

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