Folkes Group, an engineering company with industrial property interests, has announced a 5% increase in pre-tax profits to £2.05m in the six months to June 30, 1996.
Folkes currently owns 185,800 sq m (2m sq ft) of industrial property located mainly in the West Midlands. The portfolio is valued at £35m.
Chairman and chief executive Constantine Folkes said that six European companies had taken a total of 13,935 sq m (150,000 sq ft) over the last 18 months. “They’re taking the view that the UK is at an advantage since we have opted out of the Social Chapter and we don’t have a minimum wage,” he claimed.
EGi News 13/09/96
