NETE Looks to Boost Turnover by 50%
Further inroads into the retail market are on the cards for North-Eastern Tyre and Exhausts (NETE), and the Middlesbrough based business plans to use growth in this sector as the base for increasing turnover by 50 per cent over the next two years.
The company, founded by Fred and Netta Darcy in 1971 and still family owned, will reportedly recruit about 300 new staff to facilitate this expansion, with many taking up positions in new or upgraded NETE retail outlets throughout the North-East and Yorkshire regions. The past couple of years have seen numerous improvements made to the firm’s existing outlets, including the addition of café facilities. The ninth NETE retail site, a £1.5 million development in Harrogate/Knaresborough, is due to open in January 2008.
NETE brought in revenues of £33m last year, and this figure is anticipated to rise to £40m during 2007 thanks largely to the company’s enhanced retail presence. Recently appointed managing director Gavin Marshall believes now is a “very exciting” time for NETE and sees great potential to gain further ground against the competition through further retail investment.