Property Alliance Group sees profits double to £11 million
The developer Property Alliance Group with a wage bill of over £2 million saw an annual profit increase from £5.7 million to £11 million up to June 2018. Despite recent troubles that saw a legal battle lost against one of their own former bankers costing the firm £1.3 million (with a further £3.2 million set aside to cover the defendant’s legal costs) they were able to report a doubling of turnover from £7.7 million to £15.8 million.
PAG’s director David Russell wrote: “The property market in the North West remains strong and retail yields remain buoyant. This combined with high-specification projects being delivered on a consistent basis by Property Alliance Group and its partners has led to another successful year for the group”.
Full story can be read on Place North West website.