Development of two new-to-industry (NTI) sites has helped Top 50 Indie Kay Group boost turnover. In its results for the year ended October 31, turnover was up 14% to £96.4m. Pre-tax profit was down, from £4m to £2.6m, but the previous year’s figure was boosted by the sale of a site which contributed to an exceptional profit of £1.6m in 2016.
The company said the two new sites were at Crewe, which traded for the whole financial year, and Irlam, which traded for the second half of the year. During the financial year construction began on a third NTI site, at Ellesmere Port, and this began trading shortly after the company’s year end.
It also revealed that Kay Group had agreed to purchase and develop a further two NTI sites.