www.stickylabels.com Vine Lodge Products Ltd.
Brexit Statement
1st August 2020
In preparation for Britain’s exit from the European Union, Vine Lodge Products Ltd has been working on contingency planning for all likely possibilities. While we hope for minimal disruption for the United Kingdom, we have been working hard to ensure that as a business, we maintain the levels of service that we have achieved in over 45 years of trading.
Regardless of the outcome of Brexit, Vine Lodge Products will continue to supply printed labels to our valued customers across the UK, in Europe and beyond and will continue to offer the best service and support possible.
Stock of Raw Materials:
We have liaised, and continue to liaise with suppliers who have reassured us that sufficient stocks will be maintained by them and that they in turn have liaised with their manufacturers to ensure continued supplies. We are, however, increasing stock levels where necessary by between 10% and 25% as a contingency in case of interrupted supply, and will maintain this level until the political environment has settled. It is predicted that any delays at national borders as a result of Brexit will have negligible effect on our business as we will be maintaining increased minimum stock levels.
Effect of Exchange Rates on Prices:
We have already absorbed substantial costs in material and ink prices without passing them on to our customers, and expect to continue to do so if necessary through to at least mid-2019.
A stock market crash would have no direct impact on our ability to carry on business but may have a detrimental effect on the exchange rate and our economy as a whole. In the unlikely case of this happening, we may be forced to raise prices but this would be done in a transparent way and with good notice.
Effect of Alterations to UK’s Immigration Policy on Workforce:
We do not expect the UK’s exit from the EU to cause any issues with the workforce used to supply our customers.
Summary:
Although it is impossible to foresee the outcome of Brexit, Vine Lodge Products is committed to maintaining the best possible service to our customers with minimal delays.
We will continue to:
- Monitor negotiations with the EU.
- Plan for all logical outcomes.
- Liaise with suppliers and customers.
- Maintain increased stock levels.
- Maintain the best possible service to our valued customers.
- React to threats and maximise opportunities.