The Pallet Network (TPN) moved to its new £10m hub adjacent to its former Minworth home in January of this year, and its accounts for the year to 31 March 2014 suggest it wasn’t a moment too soon.

In the period, a good one for the pallet network that saw it crossover and trade from both sites, pallet volumes increased by close to a quarter (14.66%), with operating profit climbing to £2.5m (2013: £2.3m).

Operating profit margin was 4.1% compared with 4.2% a year earlier.

Total assets less current liabilities show a corresponding fall from £12.6m to £2.7m in the year to 31 March 2014.

Turnover, which consists of pallet handling, membership and administration fees, climbed 14% in the year to £61.4m (2013: £53.6m), with pre-tax profit of £2m compared with £1.8m a year ago, continuing the progress made in recent years.