Owens Group looks to Wrexham as profit doubles

Owens Group is looking to buy a facility in Wrexham after its last financial year saw profit more than double.

The group, which rebranded from Owens Road Services last year, saw a 107.5% increase in pre-tax profit for the year ending 30 June 2015 to £1.8m (2014: £884,000), which company secretary Robert Williams attributed to investments from previous years.

“We had some exceptional items the previous year which made a bit of a dent in profits,” Williams explained, “but this year is obviously a good year for us, and has seen the company continue on its upward trend.”

Owens currently rents a site on the Wrexham Industrial Estate, but Williams said it might look to buy in the area – “The trouble is, you can’t make any changes to a property when you’re only renting it,” he said.

The group's turnover also saw an increase, rising 9% to £42m (2014: £38.5m).

Williams said that the first six months of the current financial year have seen the “turnover holding” and that the company was hopeful for another set of excellent results.