Profits were up by 8% at Top 50 Indie The Kay Group, according to its latest set of results which have just been published.

For the year ending October 31 2014, pre-tax profit was £2.5m on turnover down 2% from the previous year at £89.5m. The group’s payroll increased to £2.2m from £2m over the same period.

In their report, the directors said it had been a very successful year’s trading but they warned that issues such as the possible introduction of a minimum price on alcohol and changes to the sale of tobacco products could threaten the group’s primary income streams in future years.

They added: “There was generally a heavy focus on reducing costs and this is reflected in the accounts, although the company still had to contend with increases in wages and salaries, market increases in energy and ever-increasing business rates.”

Blackburn-based The Kay Group was ranked 16th in Forecourt Trader’s Top 50 Indies with 16 sites, and it revealed planning applications were being made on three new-to-industry sites.