Member Article

Tyne & Wear enjoys profit hike

A move to a site in Washington has been reportedly “vindicated” after an envelope manufacturer revealed sales revenues of almost £30m.

Tyne and Wear Holdings, which revealed its performance for the year to 30 November 2010, said sales revenues had increased by 5.7% on the previous year.

They reached £29.98m - up from £28.36m.

Pre-tax profit also increased by 5.5 per cent from £1.91m to £2.020m.

An official spokesperson for the firm said a move to a site in Washington was instrumental in providing the positive figures.

They said: “The key performance indicators of sales revenues and the gross profit margin demonstrate clearly the satisfactory operating efficiency and performance of the company during the year under review.

“The consolidation onto one site at Washington has been vindicated and the completion of the 17,000 square feet extension will further enhance efficiencies and safety on site.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .