Heating and plumbing merchants HPS increased sales for 2008 by 10% to £30.88, although operating profits fell from £2.08m to £1.6m.
The fall in profits reflects the tougher trading conditions in second half of the year and the opening of three new branches during the same year.
“Having already opened a branch in Lymington in Hampshire in January this year, we plan to open two further new branches during May located at Poole and Christchurch, both in Dorset,” says managing director Ron Walker.
“Teams of local staff have been recruited and are well known in both towns which will ensure we can offer customers in the area an unrivalled level of merchant service and a real independent alternative to the national merchant groups.
“These two new branches now bring the HPS network up to twenty-four branches opened in the seven and a half years that the company has been trading.”