Segensworth based firm hopes race will help it add £1m to turnover

THEY'RE OFF The PSP Logistics team at London Bridge
THEY'RE OFF The PSP Logistics team at London Bridge
University of Portsmouth group finance and business students, from left, back row Professor Diego Vazquez-Brust and head of the accounting and financial management subject group at the University of Portsmouth Andrew Wood. 'Front row, Louisa Burton, Faculty of Business and Law dean Professor Gioia Pescetto, Francesca Sharp, Amy Davidson

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GLOBAL logistics firm PSP is looking to increase its turnover by £1m, thanks to its involvement in the Clipper Round the World Race.

The firm, which has its headquarters in Segensworth, is hoping to open joint-venture offices in the USA and South Africa thanks to its sponsorship of the race.

The company revealed its plan at the PSP Southampton Boat Show this week.

Frank Dixie, PSP’s managing director, said: ‘Our sponsorship of the PSP Southampton Boat Show helped us boost our marine division to account for 20 per cent of our turnover. More than that, it allowed us to break into the heavily competitive market and provide a real alternative logistics partner for race teams, sailors and boat manufacturers.

‘Now we are looking to extend that growth through our latest sponsorship of a team in the Clipper Race and I am confident that we can boost our turnover by £1m, if not £2m, as a direct result of the relationships we make in the next 11 months.’

In late August, PSP took sponsorship of a boat in the race and the firm waved off its team, PSP Logistics as it set sail from London on September 1.

PSP, which is also the official logistics partner for the race for the third event running, will fly out to the four stopovers and set up temporary offices within the race village. It is hoped that the face-to-face meetings will help PSP win business over its competitors.

The stopovers will also act as reconnaissance missions for PSP, which also hopes to set up joint-venture offices in San Francisco and Cape Town following its visits.

The company will have heightened exposure in Panama as this year, the leg from San Francisco to Panama will be called the ‘PSP Logistics Challenge’ to mark the 100th anniversary of the structure. The winning team will be awarded the PSP Logistics trophy.

PSP’s sponsorship of a team and boat in the Clipper 13-14 Round the World Yacht Race follows the pledge it made at last year’s PSP Southampton Boat Show to support the show, the marine industry and the sport of sailing.