Fletcher King plans to expand its regional coverage into Yorkshire and Scotland following a 46% rise in pre-tax profits to £72,000 in the six months to October.
“We are certainly looking to expand our regional network,” confirms chairman David Fletcher. “We would like to get into Glasgow and/ or Edinburgh and, possibly, into Leeds.” Six months ago the group moved into Birmingham as Fletcher King Cosnett Price and in 1995 it expanded into Manchester as Fletcher King Riddell Braithwaite.
Fletcher stressed that the local representatives would be majority shareholders in the office. He said: “We believe that local managers need to manage the business,” Fletcher added that there is no set timetable for the expansion.
The company maintained its progress into the black with successes across the board. It recorded a turnover of £2.133m and declared a dividend of 0.5p.
Fletcher said: “All of our operations have been quite busy. We are making steady progress with our property asset management business and the fund management business. It is organic growth.”
The company has bolstered its connection with the financial sector with the appointment of Brian Carte as a non-Executive Director. Previously, Carte was Group Chief Executive of Lombard North Central and managing director of Natwest Insurance Services.
EGi News 22/01/97
